December 12, 2022 by matray

Study Shows Wide Variance Among States’ Malpractice Costs
Physicians, nurses and healthcare workers in the state of New York suffered the largest number of medical malpractice lawsuits filed between 2012 and 2022, while those in Wisconsin experienced the fewest filings during the same period, according to a study published online last month. Ohio incurred the most expensive medical liability reports during the 10-year period with 2,325 medical liability filings costing its healthcare industry more than $853 million, while New York ranked No. 40 with a total costs to its industry at $6.85 million …

Alaska Supreme Court Overturns Law Limiting Awards in Some Medical Malpractice Cases
The Alaska Supreme Court determined last month that a 1976 law limiting financial awards in medical liability lawsuits for Alaskans with health insurance is unconstitutional. The statute at issue, AS 09.55.548(b), provided that when a medical malpractice claimant’s losses have already been compensated in part by a collateral source, such as a health insurer, the claimant’s damages award will be reduced by the value of the collateral source compensation, except when the collateral source is a “federal program that by law must seek subrogation” …

Favorable Reserve Development for MPL Specialty Insurers During Third Quarter
Medical Liability Monitor’s quarterly analysis conducted by Milliman Inc. indicates the MPL industry reported a cumulative favorable development through the third quarter of approximately $22 million on reserves related to prior years. This reflects an improvement relative to the same point in 2021 and 2020 through the third quarter. Third-quarter 2021 saw $200,000 of adverse reserve development, while third-quarter 2020 saw adverse reserve development of nearly $40 million. This favorable reserve development further supports our anticipation that the 2022 annual financial results will also reflect some reserve redundancy. However, how much reserve redundancy remains uncertain …

Ohio Supreme Court Chips Away at Vicarious Liability Claims
The Ohio Supreme Court ruled last month in Clawson v. Hts. Chiropractic Physicians that if a physician cannot be held directly liable for malpractice, then a lawsuit seeking to hold the physician’s employer vicariously liable must be dismissed. In a 4-3 decision, the Supreme Court dismissed a medical liability lawsuit filed by a patient of a Montgomery County chiropractic firm. The decision reversed a ruling by the Second District Court of Appeals, which held that Cynthia Clawson could sue Heights Chiropractic Physicians despite her malpractice claim against the chiropractor who allegedly harmed her having been dismissed as untimely ...

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December 9, 2022 by matray

Positive Physicians Insurance Co. announced today that it has partnered with Coalition, an “Active Insurance” provider designed to prevent digital risk before it strikes, to provide Positive Physician’s insured physicians and healthcare providers with competitively priced and broader coverage options.

“Coalition is a globally recognized provider of cyber insurance that delivers a progressive platform that uses Active Risk Assessment, Active Protection and Active Response to alter how healthcare professionals manage cyber threats,” said Michael Roque, Positive Physicians chief executive officer. “Coalition's advanced technology allows businesses to reduce digital risk by monitoring and responding to digital risks 24/7, making cyber insurance in the MPL industry no longer a reactive coverage. This is yet another partnership cementing our vow to identify and incorporate Insurtech solutions that will reshape how the MPL Industry transacts business.

“Cyber Insurance is often an afterthought in the MPL space, with coverage only triggering when an adverse event occurs,” Roque continued. “But as digital risk increases and evolves, so must the coverage available for healthcare providers. Coalition actively provides ongoing protection and services. This partnership gives our insureds access to affordable enhanced coverage options that will significantly help mitigate the digital risks they face daily.”

Founded in 2017, Coalition provides an integrated approach for companies to manage cyber risk. Coalition’s Active Insurance offering provides small and midsize companies with cyber security tools, active monitoring, and anytime access to digital forensics and incident response services, combined with insurance coverage provided by well-known insurance carriers.    

December 6, 2022 by matray

CNA announced the appointment of Steve Goldman to senior vice president of financial lines and healthcare. In this role, Goldman will guide the strategic and operational plans across these product lines.

"Steve's proven track record of performance across all facets of the financial lines portfolio, and his deep leadership experience within the insurance industry, make him the ideal candidate to lead our Management Liability, Financial Institutions and Healthcare businesses," said Doug Worman, executive vice president and global head of underwriting.

Goldman brings to CNA more than 20 years of insurance experience, serving in various leadership positions at AIG, ACE and Chubb. He holds a Bachelor's in economics degree from The Wharton School at the University of Pennsylvania, and obtained his J.D. from the New York University School of Law.

December 6, 2022 by matray

NOW Insurance, a full-stack, AI-enabled commercial insurance platform specializing in medical professional liability coverage, announced today the hiring of two new executives: Patrick O’Doherty as executive vice president of underwriting and Christopher Ernest as director of underwriting for allied healthcare. Both are new roles for the company.

O’Doherty will be instrumental in completing and rolling out the physician’s program, according to NOW Insurance. He brings more than 30 years of experience and leadership in medical professional liability insurance with extensive knowledge in underwriting and creating innovative healthcare products and services.

As director of underwriting for allied healthcare, Ernest will oversee allied healthcare medical professional underwriting, work closely with engineering in the development of underwriting systems and manage carrier capacity.

“The combined experience of Patrick and Chris will be a powerhouse for NOW Insurance. These are two crucial roles for the company, and I couldn’t be more pleased with these additions to the team,” said Phil Cabaud, CEO of NOW Insurance. “Patrick has a great reputation in the industry and has been part of the evolution of healthcare liability insurance for over 20 years, while proving his aptitude for creative problem solving. Chris has the ability to analyze and organize data, then also understands how use those insights to inform underwriting decisions. As NOW Insurance continues to expand our distribution network, products and services, we look forward to further developing our platform with the leadership of Patrick and Chris.”