The American Medical Association’s (AMA) Economic and Health Policy Research group reported on their analysis of the Medical Liability Monitor’s survey of major liability insurers. The study summarized the changes in medical professional liability insurance from 2013 to 2022. It also includes examples of premiums in specific geographic areas over the same time frame. The AMA noted medical liability premiums between 2019 and 2022 have increased at a rate that hasn’t been observed in more than two decades.
While the AMA analysis demonstrates stable increases between 2013 and 2018, it also reports an upward increase in premiums of about 27% beginning in 2019. In 2022, more than one-third of premiums increased an average of 8.1%. Double-digit increases were reported in 15 states during the same time period. The analysis also observed remarkable premium variances by geography.
The analysis noted that the premium surges coincided with the COVID-19 pandemic, but “the effects of the COVID-19 pandemic on the medical professional liability market has been largely inconsequential,” and a large influx of COVID claims is unlikely.
Tort reform contributed to the stabilization of medical liability premiums in the early 2000s, but some of those reforms were reversed in the past decade, which led to increased claims severity and frequency. The AMA, along with state medical societies, fights on your behalf to preserve premium stability. You can learn more about AMA’s plan to reshape the medical liability system, read Medical Liability Reform – Now!
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