1 / 40

Medical Malpractice Update

Medical Malpractice Update. CASE 2004 Fall Meeting. Medical Malpractice Update. Topics change in players financial results reforms. Medical Malpractice Update. Medical Malpractice Update. Medical Malpractice Update. Still fairly spread out MLMIC, the largest, at 10% drops off quickly

shaeleigh-kemp
Download Presentation

Medical Malpractice Update

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Medical Malpractice Update CASE 2004 Fall Meeting James D. Hurley, ACAS, MAAA

  2. Medical Malpractice Update • Topics • change in players • financial results • reforms

  3. Medical Malpractice Update

  4. Medical Malpractice Update

  5. Medical Malpractice Update • Still fairly spread out • MLMIC, the largest, at 10% • drops off quickly • Huge turnover... • St. Paul, MIIX, Phico, SCPIE, ROA, Farmer’s • over $1 Billion in premium moves • some commercials step-up • Many new formations • most are state specific (or even ‘group’ specific) • getting into the game tougher

  6. Medical Malpractice Update • Financial Results – survey (ex. MLMIC) • balance sheet • income statement • Schedule P

  7. Medical Malpractice Update

  8. Medical Malpractice Update

  9. Medical Malpractice Update

  10. Medical Malpractice Update

  11. Medical Malpractice Update

  12. Medical Malpractice Update

  13. Medical Malpractice Update

  14. Medical Malpractice Update

  15. Medical Malpractice Update

  16. Medical Malpractice Update

  17. Medical Malpractice Update

  18. Medical Malpractice Update

  19. Medical Malpractice Update

  20. Medical Malpractice Update

  21. Medical Malpractice Update

  22. Medical Malpractice Update

  23. Medical Malpractice Update

  24. Medical Malpractice Update

  25. Medical Malpractice Update

  26. Medical Malpractice Update

  27. Medical Malpractice Update

  28. Medical Malpractice Update

  29. Medical Malpractice Update

  30. Medical Malpractice Update

  31. Medical Malpractice Update

  32. Medical Malpractice Update

  33. Medical Malpractice Update

  34. Medical Malpractice Update

  35. Medical Malpractice Update Messages – • Financial results – a work in progress • but better than industry medical malpractice • Underwriting • combined ratio (at 120%) still too high • 2003 coverage year almost gets it • rate increases still to be ‘felt’ • question is reserves • Investment income • still evolving – ‘numerator / denominator’ problem • expect lower than 2003 • interest rate increase – ‘talk is cheap’ (and no help for 2004) • Leverage – still upward pressure • ‘Stars need to align’ to assure better 2004

  36. Medical Malpractice Update • Reforms • tort reform • HR5 / MICRA / other states • will it work? • will it be upheld?

  37. Medical Malpractice Update • Reforms • tort reform • insurance reform • Prop 103 • rollbacks / freezes • repeal anti-trust exemption • ‘SMART’ laws • RBC

  38. Medical Malpractice Update • Reforms • tort reform • insurance reform • healthcare reform • provider discipline • patient safety

  39. Medical Malpractice Update

  40. Medical Malpractice Update Questions?

More Related