Can studying past unemployment rates predict future medical professional liability claim frequency?
Medical professional liability (MPL) claim frequency has been on the decline since 2001. With the economic slowdown impacting a number of different industries, MPL carriers are asking: Is there a direct relationship between the state of the economy and future trends in MPL? How could high unemployment affect the already low MPL claim frequency?
In this Best’s Review article, Chad Karls and Susan Forray use a statistical analysis based on the U.S. unemployment rate to forecast future trends in MPL claim frequency.