Self-Insuring Medical Malpractice Can Offer Long-Term Rewards For many physicians, insurance carriers and patients, todays medical malpractice crisis seems unique, one that is the result of several forces converging at the same time to create chaos. This "perfect storm" is resulting in a devastating scenario featuring high premiums, carriers leaving the state, doctors avoiding high-risk procedures and patients complaining about inaccessibility to medical services.
These situations, however, are not unique simply because the insurance industry is in one of the volatile cycles. Those of us who have been involved with the medical malpractice insurance environment for more than 25 years are now experiencing our third crisis.
The first crisis occurred in the mid-to-late 1970s, the second in the mid-1980s and the third started during 2001. Each period had a different set of circumstances that led up to the crisis.
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