2010 Medical Professional Liability Symposium Chicago, IL ~ March 18 & 19, 2010 HPL Benchmarking: Do the Numbers Lie?

Slides:

Advertisements

Similar presentations

Chicago - March 29-30, PLUS Medical PL Symposium Medical Professional Claims: Where Are They Heading? How Changes In The Medical Profession Will.

Advertisements

Chicago - March 29-30, PLUS Medical PL Symposium Emerging Challenges for Healthcare Executives.

2011 Medical Professional Liability Symposium Chicago, IL ~ March 24 & 25, 2011 IS HINDSIGHT IN HEALTHCARE REALLY 20/20?

Assignment Nine Actuarial Operations.

2011 Medical Professional Liability Symposium Chicago, IL ~ March 24 & 25, 2011 THE WRECK OF THE RAC: LESSONS LEARNED FOR ALL.

Topics Impact of Managed Care on Medical Malpractice Hospital Exposure Base Policy Terms and Conditions Actuaries need to be aware of Medical Malpractice.

2011 Professional Risk Symposium: EPL, E&O and Fiduciary HAS THE GREAT RECESSION CHANGED EPLI FOREVER? Chicago, IL ~ March 24 & 25, 2011.

Tort Reform in Reverse?. Singin’ The PL Blues MODERATOR: Sean Fitzpatrick, Esq., Senior Vice President, Middle Market & Specialty Financial, The Hartford.

Highlights of the ABA’s Legal Malpractice Claims Study Midwest Lawyers, LLC.

Issues Relating to Discounting 2007 CASE Spring Meeting March 14, 2007 Nashville, Tennessee William R. Wilkins, FCAS MAAA Senior Vice President and Chief.

What REALLY Happens after a Breach or Electronic Data Loss Event.

DRAFT 0 Medical Malpractice: Is the Crisis Over? CAS Spring Meeting 2006 Puerto Rico Carl Ashenbrenner, F.C.A.S., M.A.A.A. Principal and Consulting Actuary.

OHIO BUREAU OF WORKERS COMPENSATION LOSS RESERVES PROCESS.

Pricing ISU Alumni Day Presentation Carol Sorenson, FCAS, MAAA Workers' Compensation.

Directors & Officers Liability Survey 2000 Results and Historical Trends Casualty Actuaries of Greater New York November 28, 2001 Lisa Gattel Chanzit,

View from the Top – Healthcare and Medical Professional Liability Issues.

Page 1 Casualty Actuarial Society 2002 Seminar on Ratemaking March 8, 2002 Medical Malpractice - Advanced Topics Hospital Professional Liability Rating.

Evaluation of Medical Malpractice Tort Reform Casualty Actuarial Society Colorado Springs, CO May 17, 2004 Presented by: Richard S. Biondi, FCAS.

2008 Medical Professional Liability Symposium Chicago, Illinois ~ March 11 & 12, 2008 Trends in Healthcare-The Who, What, Where, When and How of Healthcare.

Continuity Clinic Liability Insurance 101 Modified from information on

2008 International Conference Golden Opportunities or Fool’s Gold? November 5-7, 2008 San Francisco How Actuaries Influence the Art and Science of Underwriting.

Loss Reserving Anatomy of a claim 12/15/99 Auto accident 12/20/99 Insured reports accident to agent 1/7/00 Claim recorded 2/3/00 $10,000 reserve set 1/8/01.

IABA Annual Meeting The New Medical Malpractice Crisis: A Historical Perspective August 4, 2012 Arthur R. Randolph, II, FCAS, MAAA, CPCU, ARM, ARe Senior.

2007 International Conference Washington, D.C. ~ November 7-9, 2007 Can the Jury Award That? Beyond Out Of Pocket Damages.

The New Med Mal Crisis Where have all the doctors gone?

Industry Overview: Check-Up, Check-Mate, Or Check-Out? MODERATOR: Paul F. McKeon, MBA, Senior Vice President, Transatlantic Reinsurance Company PANELISTS:

The 2 nd International Istanbul Insurance Conference Liability Underwriting & Claims in the MENA Market Claims in the MENA Market Lina Hantas ACE American.

Current Issues and Trends in Medical Malpractice Casualty Loss Reserve Seminar September 10, 2007 Erik A. Johnson Aon Global Risk Consulting.

Full Steam Ahead: Clearing the Horizon - Cassatt Insurance Company, Ltd.

Enterprise Risk Management and the Actuarial Profession 2004 CAS Annual Meeting November 14-16, 2004.

Medical Risk Management 1 st South American Congress Risk Management Santiago, Chile August 6 & 7, 2012 By: Geoffrey Hayton Claims Counsel for Adventist.

© 2005 Zurich Another Year of Sleepless Nights: Hospital Professional Liability Insurance PLUS Medical Professional Liability Symposium March 17, 2005.

AUTOMOBILE INSURANCE Chapters 33 autoquiz_DSL.wmv.

Short-Term Changes in Long Term Care Short-Term Changes in Long Term Care PLUS Medical PL Symposium March 12, 2003.

Workers’ Compensation Managed Care Pricing Considerations Prepared By: Brian Z. Brown, F.C.A.S., M.A.A.A. Lori E. Stoeberl, A.C.A.S., M.A.A.A. SESSION:

Reserving for Self-Insureds Kevin M. Bingham – Deloitte. Casualty Actuarial Society September 12, :30 PM – 3:00 PM Boston,

2010 Medical Professional Liability Symposium Chicago, IL ~ March 18 & 19, 2010 Litigation Update: Causation Does Matter.

2007 Annual Meeting ● Assemblée annuelle 2007 Vancouver 2007 Annual Meeting ● Assemblée annuelle 2007 Vancouver Canadian Institute of Actuaries Canadian.

Physician's Professional Liability: Can We Avoid the Bust? MODERATOR: David Spiegler, FCAS, FCA, MAAA, Executive Vice President & Chief Actuary, BMS Intermediaries,

The Big Picture: Hospitals in a Volatile Healthcare Environment James Bentley, Ph.D. Senior Vice President for Strategic Policy Planning American Hospital.

2006 Medical Professional Liability Symposium Chicago, Illinois ~ March 14 & 15, 2006 The Impact of Technology on Underwriting Hospital Professional Liability.

2008 International Conference Golden Opportunities or Fool’s Gold? November 5-7, 2008 San Francisco Challenges of Underwriting and Policy Interpretation.

Malpractice Loss Trends 2007 Update DRI, March 15, 2007.

© 2005 Towers Perrin March 10, 2005 Ann M. Conway, FCAS, MAAA Call 3 Ratemaking for Captives & Alternative Market Vehicles.

Using your Actuary as a Strategic Business Partner Presented by Bill Montanez, Jim Shoop, and Jeff Doffing.

Issues in California Workers Compensation Michele Bernal, FCAS VP & Actuary, American Re 6/15/00.

1999 CAS RATEMAKING SEMINAR PRODUCT DEVELOPMENT (MIS - 32) BETH FITZGERALD, FCAS, MAAA.

Tillinghast–Towers Perrin Montana State Fund Loss Reserves Senate Bill 304 Study Committee September 23, 2003 Presented by: Robert F. Conger, FCAS, MAAA,

2010 Medical Professional Liability Symposium Chicago, IL ~ March 18 & 19, 2010 Extreme Makeover, Healthcare Edition: Navigating the Changes.

1 - © ISO, Inc., 2008 London CARe Seminar: Trend – U.S. Trend Sources and Techniques, A Comparison to European Methods Beth Fitzgerald, FCAS, MAAA, CPCU.

Mississippi Association of Self-Insurers Mississippi's Self-Insured Work Comp Industry – Tanned, Rested & Ready! Presented by: Preston Williams, MWCC Christopher.

CAS Annual Meeting EMERGING ISSUES IN MEDICAL MALPRACTICE THE ROLE OF THE ACTUARY IN ALTERNATIVE INSURANCE MARKETS November 16, 2004 Richard B. Lord, FCAS.

Concurrent Session: Medical Malpractice 2002 CAS Seminar on Reinsurance June 3 Peter Schultheiss, FCAS Zurich NA.

Estimating the Effect of Tort Reform on Medical Malpractice Costs CAS Spring Meeting May 16, 2005 Robert J. Walling, FCAS, MAAA.

Premium Allocation Facts and Theories: Methodology NY RIMS Breakfast Meeting June 21, 2012 Pam Ferrandino, EVP, Willis National Casualty Practice Leader.

PLUS Medical PL Symposium PLUS Medical PL Symposium.

The Opportunity Presented by Medical Malpractice Databases and GLM CAS GLM Seminar October 4, 2004 Robert J. Walling, FCAS, MAAA.

Casualty Loss Reserve Seminar Current Issues and Trends in Medical Malpractice This document is incomplete without the accompanying discussion; it is confidential.

Emerging Issues in Medical Malpractice CAS Fall Meeting November 16, 2004 Robert J. Walling, FCAS, MAAA.

Medical Professional Liability Ratemaking Hospitals / Self-Insurance March 12, 2004.

Aging in America Potential Impacts in Property Casualty Risk Management Christopher S. Carlson, FCAS, MAAA July 14 th, 2014.

Reserving for Medical Professional Liability Casualty Loss Reserve Seminar September 10-11, 2001 New Orleans, Louisiana Rajesh Sahasrabuddhe, FCAS, MAAA.

2005 CAS Ratemaking Seminar Pricing and Market Conditions: Financial Lines Measuring Risk for D&O Liability Ben Fidlow, FCAS, MAAA.

The Run-Off Environment – Considerations for the Reserving Actuary Jason Russ, FCAS Principal Milliman, Inc.

The Malpractice Crisis-- A Large Hospital System Perspective James D. Hinton HCA Inc. March 11, 2003.

Paul Ruiz – Claims Executive Gen Re, San Francisco

Intellectual Property Risks In The Cyber World of Today

CASUALTY ACTUARIAL SOCIETY RATEMAKING SEMINAR March 11 – 12, 2004

Introduction to Experience Rating

Actuarial Support for Insurance Buyers

Presentation transcript:

2010 Medical Professional Liability Symposium Chicago, IL ~ March 18 & 19, 2010 HPL Benchmarking: Do the Numbers Lie?

HPL Benchmarking: Do the Numbers Lie? Moderator: Robert Allen, Senior Vice President, Healthcare, Torus Insurance Panelists: Erik A. Johnson, FCAS, MAAA, Associate Director & Actuary, Aon Global Risk Consulting Peter Schultheiss, FCAS, Division Actuary & Vice President, Zurich North America Andrew Shapiro, JD, Senior Vice President, HealthPro, CNA Paul Voller, Partner, Lloyd & Partners Limited

HPL Benchmarking Medical Malpractice Results  Illustration of Ultimate Loss Ratios For Illustrative Purposes Only: 2007 and 2008 Ultimate Loss Ratios

HPL Benchmarking Medical Malpractice Results  2008 Loss & Expense Ratios 2008 Florida Medical Malpractice Financial Information

HPL Benchmarking Aon/ASHRM Hospital Professional Liability & Physician Liability 2009 Benchmark Analysis

HPL Benchmarking Aon/ASHRM Benchmarking Study  Methodology (# claims, # years, exposure)  Trends Analyzed Never Events Frequency Severity Hospitals Physicians

HPL Benchmarking FREQUENCY

HPL Benchmarking Aon/ASHRM HPL Benchmarking Study - Overall Frequency per Bed 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

HPL Benchmarking Aon/ASHRM HPL Benchmarking Study - Frequency per 10,000 Births 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

HPL Benchmarking SEVERITY

HPL Benchmarking Aon/ASHRM HPL Benchmarking Study – Overall Claim Severity Limited to $2M 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

HPL Benchmarking Aon/ASHRM HPL Benchmarking Study – Closed Claim Analysis of Indemnity Payments HPL Avg. Paid $2M NPDB Avg. Paid Indemnity Unlimited 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

HPL Benchmarking Aon/ASHRM Benchmarking Study Findings - For-Profit vs. Not-for-Profit 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

HPL Benchmarking CNA AGING SERVICES STUDY  8,000 Claims Across a 5-Year Period  For-profits have higher frequency; gap is closing  Severity Gap is Non-Existent  Facility and Cause of Loss Trends  Most severe injuries are death, sexual assault, amputation, and pressure ulcer

HPL Benchmarking Benchmarking Study Findings Bed Size Loss Cost per $2M 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

HPL Benchmarking STATE REPORTS

HPL Benchmarking Missouri 2008 Medical Malpractice Insurance Report

HPL Benchmarking 2008 Pennsylvania Court Statistics Defense Verdicts$500,000 or LessTotal No. of Cases% %

HPL Benchmarking 2008 Pennsylvania Medical Malpractice Case Filings:

HPL Benchmarking WHAT’S NEXT?

HPL Benchmarking The Future of Benchmarking  Underwriting/Brokerage Strategy?  Rate Making?  50 States Collecting Data?  More Facility-Closed Claim Studies?  CMS Quality Indicators?

2010 Medical Professional Liability Symposium Chicago, IL ~ March 18 & 19, 2010 HPL Benchmarking: Do the Numbers Lie?