Medical-malpractice insurers are enjoying profitable results, even though premium volume is decreasing.
“It’s a good time to be in this line of business,” says Robert Allen, senior vice president of medical-professional liability for Torus. “Underlying trends have kept the line profitable, and on the underwriting side, everyone remains disciplined.
Healthcare providers are simply better than they were five or 10 years ago, offers Allen, because of the public accessibility to grades.
“Historically the attention to quality was not there,” he says. Now the healthcare industry does not put quality, patient safety and risk management in silos, Allen says.