December 12, 2024 by matray

Below are some headlines and article synopses from the December 2024 issue of Medical Liability Monitor. To read the articles in their entirety, please subscribe today.

How the 2024 Elections Could Affect the MPL Insurance Industry
Elections have consequences. And with the 2024 U.S. election cycle in the American rearview mirror, industry leaders are doing their best to decipher what those consequences — good or bad — might be for their business. With unified Republican control of the executive and legislative branches of government, will the GOP agenda be able to tame the economic inflation — much less social inflation — that is challenging the medical professional liability industry’s claims and operations costs? Is the Holy Grail of passing federal damage caps finally a possibility? And what were the outcomes of key races for governorships and state legislatures, where most medical liability reforms are typically enacted? …

New Mexico Jury Awards Record $412 Million Medical Liability Verdict
A New Mexico jury awarded more than $412 million last month to a man in a medical malpractice case involving NuMale Medical, a national chain of men’s health clinics. According to the plaintiff’s attorneys, it is the largest amount ever awarded by a jury for a medical malpractice claim in the United States …

DWP, Investment Gains Offsetting Underwriting Difficulties for MPL Specialty Writers
Direct written premium and investment income continued to rise during the third quarter of 2024, insulating the industry from continued underwriting losses …

Report on Digital Health Services Highlights Insurance Coverage Gaps
Digital health services are rapidly augmenting how healthcare is delivered in the United States. A new white paper, 2024 Digital Health Insurance Report, shares insights from medical professional liability insurance agents surveyed about the risks associated with using digital health services and how their clients are contemplating insurance coverage for these exposures …

Michigan Supreme Court Asked to Weigh Constitutionality of Medical Liability Damage Caps
The U.S. District Court for the Eastern District of Michigan last month requested that the Michigan Supreme Court certify legal questions regarding the constitutionality of the state’s cap on noneconomic damages in medical liability lawsuits …

Iowa Supreme Court Reverses, Remands State’s Largest Medical Malpractice Verdict
The Iowa Supreme Court last month reversed and remanded a $97.4 million medical liability verdict from 2022 — the largest of its kind in state history — for a violation of the hearsay rule. This decision paves the way for a new trial …

Ambiguous Abortion Bans Fueling New ‘Hesitant Medicine’
Abortion bans are intended to reduce elective abortions, but they also affect the way physicians practice medicine. Key finding from a recently published article in the journal Social Science & Medicine finds that abortion bans with criminal penalties are driving the new phenomenon of “hesitant medicine,” where providers are forced to prioritize their own criminal legal risks over the well-being of their patients and hesitate to provide the treatment their patients require …

Subscribe today to get this issue (as well as the 2024 and 2025 Annual Rate Survey at no additional cost).

December 6, 2024 by matray

MagMutual Insurance Co. announced that its chief medical officer Tanner Colegrove, MD, will present current research on maternal mortality in the U.S. during the American College of Obstetricians & Gynecologists (ACOG) West Virginia Section Meeting, December 6 - 8 at the Greenbrier in White Sulphur Springs.

Colegrove will discuss findings from MagMutual’s report Worsening Maternal Mortality in the U.S.: The Role of Physicians and the Public in Addressing this Growing Crisis, which examines the many causes driving the maternal mortality trend and provides strategies for healthcare providers to elevate care, improve outcomes and reduce litigation.

Dara Aliff, DO, a member of the MagMutual Board of Directors, is chairing the ACOG program, which is eligible for CME credit. Participating faculty will lecture on issues, clinical developments and diagnostic and treatment methodologies in obstetrics and gynecology, including maternal morbidity and mortality, minimally invasive gynecological surgery (MIGS) in pregnancy, adolescent contraception, polycystic ovary syndrome (PCOS), preterm birth prediction, and prevention, menopause and fetal surgery.

“Maternal mortality in the U.S. is an incredibly complex issue which requires the collective involvement of the medical community, legislators, researchers, educators and the general public,” Colegrove said. “MagMutual has conducted extensive research on this issue, and I’m gratified to share the findings that may help the medical community have a meaningful impact in addressing this problem beyond their own healthcare institutions.”  

December 3, 2024 by matray

AM Best affirmed BETA Healthcare Group’s financial strength rating of “A” (Excellent) with a stable outlook. BETA is a provider of hospital professional liability and the medical professional liability.

Best noted several key aspects of BETA’s operations that contributed to its rating:

• Strongest level of risk-adjusted capitalization as measured by Best’s Capital Adequacy Ratio (BCAR)

• Prudent loss reserving practices which have resulted in consistently favorable development of prior accident year reserves

• Long-term history of organic surplus growth despite sizable dividends paid annually, which are used to manage capital and return profits to members

• Sound liquidity measures supported by an invested asset base that predominantly consists of high-quality fixed-income securities that generate consistent and growing net investment income

“We are pleased that AM Best once again gives BETA high marks for its financial strength and operational excellence,” said Corey Grove, CEO of BETA Healthcare Group. “We continue to build upon this solid foundation to not only be there when our members need us financially, but also help advance their efforts to develop safety cultures and the infrastructure to embed the principles of both patient and employee safety in their organizations.”