When you need protection, you want strength. You want the most powerful backing and muscle you can find. When you’re looking for a medical liability carrier you want a carrier that is strong enough not only to take care of your needs today, but will also have the wherewithal and foresight to take care of you during a medmal crisis.
A.M. Best reports that although they now consider the market to be “stable”, they warn that the malpractice arena remains vulnerable to cycles.1
Many insurers dabble in professional medical liability insurance when it is profitable for them. Right now, many states are experiencing an influx of new insurance carriers that are entering the medmal market to take advantage of a softened marketplace and lower frequency of claims.
However, the medical malpractice insurance industry is not for the timid. Advances in technology, changes in healthcare and local indemnity payment trends or even just an increase in patients can provoke a surge of claims. With each surge, less confident carriers have run from medical malpractice insurance, often leaving healthcare providers without coverage. More than once, the medical profession has faced times of crisis when very few carriers were willing to deal with the risk and potential cost of medical malpractice insurance.
Medical Protective is the only medical malpractice carrier who has endured all three medmal crises and through it all has provided superior protection to their insured. Nothing says strength like the highest ratings available A++ and AAA from independent rating agencies A.M. Best and S&P. We’re proud to be part of Warren Buffett’s Berkshire Hathaway, the epitome of financial strength and smart financial management.
