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Issue: Medical professional liability insurance, sometimes known as medical malpractice insurance, is a type of professional liability insurance that protects physicians and other licensed health care professionals (such as dentists and nurses) from liability associated with wrongful practices resulting in: Bodily injury. Medical expenses.
Medical Malpractice - insurance coverage protecting a licensed health care provider or health care facility against legal liability resulting from the death or injury of any person due to the insured's misconduct, negligence, or incompetence, in rendering or failure to render professional services.
malpractice insurance premiums are high, regardless of market profitability. This suggests that the RRG marketplace entry decision is associated with the affordability of medical malpractice insurance. In contrast, we find evidence that the entry decision of non-RRG companies, and particularly stock companies, are driven more by profit concerns.
The National Association of Insurance Commissioners serves to protect public interest, promote competitive markets, and improve state regulation of insurance. NAIC - Supporting Insurance, Regulators, & Public Interest
Section 3902(d)(1) of the LRRA requires RRGs to submit a plan of operation or feasibility study to the insurance commissioner of the domiciliary state before it may offer insurance in any state. The plan of operation or feasibility study shall include the coverages, deductibles, coverage limits, rates and rating classification systems for each ...
For the health insurance industry, average net premium per member per month increased 3.2% from 2020 to 2021, but underwriting gain and net income declined significantly (but remained positive) (NAIC, U.S. Health Insurance Industry Analysis Report, 2021 Annual Results). Recoupment is expected to have continued in 2022 and will likely keep ...
Auto insurance is one of the most used types of personal insurance. Most states require that you purchase some kind of insurance coverage to drive legally in the state. Auto insurance can be divided into two basic coverage areas: liability and property damage. Two factors determine what you pay for auto insurance.
by other sources of recovery, such as insurance. There is a wealth of insurance-related academic research that considers these mitigation strategies, specifically focusing on tort reform. Early research centered primarily on product liability (Warfel, 1991; Warfel, 1993) and medical malpractice insurance (Viscusi et al., 1993; Viscusi & Born ...
there is insufficient available data to study every aspect of medical malpractice insurance market problems. There are essentially two important limitations to the data available from NAIC sources that merit discussion. First, many insurers, such as self-insurance plans and state-mandated entities, do not file financial data with the NAIC.
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