Marketplace Tight for Healthcare Risks Despite New Capacity

Placing You First Insurance Podcast by CRC Group

Nov 12 2021 • 21 mins

Healthcare is a diverse industry, ranging from individual practitioners and home health nurses to ambulatory care centers and integrated systems with revenues in the billions of dollars. The risks along that spectrum also vary widely, but the insurance marketplace for healthcare organizations has been almost uniformly tight. Several insurance companies that underwrote healthcare business for decades have withdrawn from some classes, citing high loss ratios. In their place, new sources of capacity have emerged. Historically, the presence of new entrants has signaled competition and a loosening of terms, conditions, and rates. Unfortunately for insureds, that is not happening in the current marketplace. It's a challenging environment that requires retailers to approach the renewal process differently.

Featured in this Episode:

  • Bob Allen is president of Pro-Praxis, a CRC Group company providing specialty programs to large healthcare organizations, based in New York.
  • Rusty Hughes is a senior broker in the Birmingham, Alabama, office of CRC Group.
  • Alex Gould is a broker in the Birmingham, Alabama, office of CRC Group.

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