MPL rates to rise double-digits amid lackluster capacity and Covid uncertainty
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MPL rates to rise double-digits amid lackluster capacity and Covid uncertainty

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Sources expect medical professional liability rates to increase by an average of 15%-25% as a base case scenario across sub-classes for at least the next two years as increased loss ratios, staff shortages and social inflation, all compounded by the uncertainty of delayed Covid claims, squeeze capacity.

As some insurers leave the market, new ones are entering, sources added. Coupled with potential new capacity and pricing adequacy on the horizon, the tumultuous medmal space may see stability in the medium term, the sources said.

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