Recently, American Medical News reported that medical malpractice lawsuit insurance premiums have begun to soften but this is thought to be a temporary decline. Overall, across the United States, medical malpractice lawsuit insurance premiums declined on average of about 3% over the past two years. Additionally, medical malpractice insurance is more readily available than it was in the late 90s and in the early 2000s, when such coverage was difficult to obtain and was very expensive.
The cost to defend medical malpractice lawsuits has increased over the last three years, however, the awards have been smaller and the number of claims is less according to the National Practitioner Data Bank. The author of this blog serves on a lawsuit claims committee for a national malpractice insurance company and can support these trends. Continue reading