Tail Implications of Switching to Other Medical Professional Liability Insurance Policies

Medical Professional Liability Insurance

Published by: Scott Parker, Acadia

Summary of this Article: 

  • Premiums are Rising
  • Mentality is Shifting
  • Underwriting Restriction Increases
  • Availability for Coverage is Limited for Physicians
  • The Solution for “Tail” Coverage Options

The medical professional liability (MPL) market has entered a dynamic cycle in which premiums are rising and underwriting mentality is shifting. Many of the nation’s largest, most well financed MPL carriers have announced rate increases over the past 12 months. Further, underwriting appetite has evolved considerably from aggressive and lenient to cautious and stringent. Evidence of this abrupt change has been felt by most specialties throughout the majority of the country. Connecticut is no exception. A shift of this significance has resulted in a marked change in the price and availability of coverage for some physicians, but options remain. When exploring better coverage options and prior to making any decisions, physicians should consider extended reporting (“tail”) coverage, as well as the financial stability of the prospective insurer.

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