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Medical Malpractice report shows increased severity despite lower frequency

The Insurance Information Institute has just released a comprehensive look at Medical Malpractice outlining recent developments and industry trends (read more at Medical Malpractice: The Topic). This article breaks down the industry by looking at, among other things, market conditions and national developments.

Key highlights include

  • Damage caps can save $54 Billion in medical costs by reducing premiums by about 10%
  • Fewer claims are being filed as a result of tort reform, improved patient safety initiatives and better risk management
  • Claim values, despite decrease in volume, continue to rise
  • Tort costs for medical malpractice claims are greater than other types of tort claims
  • Defense and cost containment expenses rose in 2008 to 58.1% of incurred loss, up from 55.1%
  • Defensive medicine accounts for 10% of medical care costs

It appears that tort reform measures work to decrease premiums and alleviate the high cost of Malpractice on medical costs.

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Posted in Medical Malpractice, SPOT on Issues.

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Continuing the Discussion

  1. Med Mal Update: Reasons for decrease in frequency and recent Illinois court decision to strike down damage caps – The Claims SPOT linked to this post on February 5, 2010

    […] in frequency and recent Illinois court decision to strike down damage caps In response to my post, medical malpractice report shows increased severity despite lower frequency, I received a number of Linked-In comments that I felt offered an interesting perspective on this […]

  2. Med Mal Update: Reasons for decrease in frequency and recent Illinois court decision to strike down damage caps – The Claims SPOT linked to this post on July 26, 2010

    […] response to my post, medical malpractice report shows increased severity despite lower frequency, I received a number of LinkedIn comments that I felt offered an interesting perspective on this […]



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