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.
Paul A. Greve, executive vice president for insurance broker Willis Healthcare Practice, noted that 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.
Continued price softening, he said, has raised the issue of whether insurers are collecting enough premium–especially for a line of business notorious for its long-tailed claims.
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