Physicians face evolving challenges in malpractice insurance, with trends shaped by market dynamics and legal shifts. Experts Brad Ash and Wayne de Nazarie from ISMIE Mutual Insurance Co. suggest that physicians should prioritize financial strength and geographic reach when selecting medical professional liability (MPL) carriers. The MPL market, characterized as “hardening” since 2019, reflects increased stability but remains competitive.
The rise of hospital acquisitions and private equity in healthcare brings pros like financial stability and reduced administrative burdens but also cons like contractual conflicts and adjustment challenges. Additionally, large malpractice verdicts have surged, driven by plaintiff strategies like anchoring, which pressures juries to award higher sums. A key risk management approach is quick claim assessment and ensuring high-quality defense to avoid costly verdicts.