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P. 51
Healthcare practice
Healthcare
Healthcare continues to be a challenging AN INCREASINGLY CHALLENGING HCL MARKET
and dynamic market.
Clients are increasingly confronted with retaining more risk due
to increased claim severity, a volatile litigation environment, DETERIORATING LOSS HEALTHCARE EXCESS SURPLUS —
intensiied underwriting scrutiny and an overall market ENVIRONMENT CONSOLIDATION SOFT MARKET PRICING
consensus that healthcare liability has been “underpriced”
for a decade. Restrictive terms around communicable disease
were implemented for many July 1 renewals. Additionally,
we have seen insurers withdrawing from certain subindustry
segments and rating downgrades; further deterioration in REDUCED PROFITABILITY
individual carrier results could lead to continued reduced
capacity. Resulting in a continuum of responses
(varying by product/geography)
Opioids continue to be a hot topic of discussion, with questions
focusing on how physicians are managing prescriptions and Insolvencies,
overall patient monitoring. With the #MeToo movement, runoffs, Market exits Reunderwriting M&A Expansion
there has been an uptick of sexual abuse claims, motivating downgrades
underwriters in healthcare to take a closer look at sexual
abuse in all facets of the healthcare industry. New questions
arose around, “Is there a second caregiver in the room,” “How
does the organizational culture embrace ‘see something/say Zurich announced the exit of HPL efective 11/01/20.
something’,” and “What is being done to manage the risk?”
We continue assess the impact of this reduction in capacity.
HopeWest — Lockton: A collaborative Healthcare Practice review 51 Lockton Companies
Healthcare
Healthcare continues to be a challenging AN INCREASINGLY CHALLENGING HCL MARKET
and dynamic market.
Clients are increasingly confronted with retaining more risk due
to increased claim severity, a volatile litigation environment, DETERIORATING LOSS HEALTHCARE EXCESS SURPLUS —
intensiied underwriting scrutiny and an overall market ENVIRONMENT CONSOLIDATION SOFT MARKET PRICING
consensus that healthcare liability has been “underpriced”
for a decade. Restrictive terms around communicable disease
were implemented for many July 1 renewals. Additionally,
we have seen insurers withdrawing from certain subindustry
segments and rating downgrades; further deterioration in REDUCED PROFITABILITY
individual carrier results could lead to continued reduced
capacity. Resulting in a continuum of responses
(varying by product/geography)
Opioids continue to be a hot topic of discussion, with questions
focusing on how physicians are managing prescriptions and Insolvencies,
overall patient monitoring. With the #MeToo movement, runoffs, Market exits Reunderwriting M&A Expansion
there has been an uptick of sexual abuse claims, motivating downgrades
underwriters in healthcare to take a closer look at sexual
abuse in all facets of the healthcare industry. New questions
arose around, “Is there a second caregiver in the room,” “How
does the organizational culture embrace ‘see something/say Zurich announced the exit of HPL efective 11/01/20.
something’,” and “What is being done to manage the risk?”
We continue assess the impact of this reduction in capacity.
HopeWest — Lockton: A collaborative Healthcare Practice review 51 Lockton Companies
