US medical malpractice insurance

Document description

This paper seeks to explain aspects of US medical malpractice insurance. Part 1 considers the recent history, current position and trends of the insurance market. In Part 2 we explain the terminology and definitions which may not be familiar to those not dealing with this class of insurance. Part 3 looks at the different types of rating commonly used by US actuaries and briefly consider reserving. Typical reinsurance programmes that are bought in the London Market are examined in Part 4. We analyse a fictional example of an actuarial submission that a London market actuary would expect to see from a cedant in Part 5.