Medical professional liability (MPL) specialty writers are continuing to benefit from large redundancies in prior-year response levels as they have for several years. But a not so subtle transformation has emerged in the past few years. That transformation is that reserve runoffs are no longer bolstering the profit level. In fact, it could be argued that reserve runoffs are responsible for the profits as a whole. Milliman’s Brad Parker and Chuck Mitchell provide perspective in this article.
The article was originally published in the Medical Liability Monitor.