The issues that once drove dramatic increases in liability insurance costs for those in the health care industry have not disappeared, but the abundance of capital, improved risk management practices and adoption of tort reforms have helped soften pricing for this high-risk but ever expanding sector, experts in the field observed.
According to insurance brokers who specialize in this marketplace, one of the typical soft market drivers influencing premium quotes is the abundance of capital insurers are willing to invest. In turn, that is driving increased competition, with new entrants drawn to the line by declining loss experience.
However, noted Paul A. Greve, executive vice president for insurance broker Willis Healthcare Practice, while the loss history in this line has improved over the last five years--improving profitability and attracting more capital--it remains a very volatile business.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
