The growing attraction of alternative risk-transfer options is likely to make it harder for health care liability insurers to lure clients back into the traditional market, or keep more from jumping ship, even in the midst of a soft but catastrophe-prone pricing cycle, market observers contend.
Ray Pate, executive vice president for BMS Ltd., a reinsurance brokerage in London, pointed out that the health care providers themselves, who formed their own risk retention groups, deserve credit for the downturn in pricing in recent years.
Concentrating on claims management and service to their customers, they have managed to save money for clients and pay out dividends to members, he observed.
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.
