11/27/2022: Due to a local power outage, the MPL Association’s phone system is currently offline. For email addresses, please see the Staff Directory.
Join us for the second of two exclusive online MPL Investment and Asset Management Thought Leader Forums.
The MPL Association’s Government Relations Department provides insights from the 2023 state legislative sessions across the country, including an analysis of the multiple states that took significant steps to address caps on damages.
Headwinds Continue for MPL Insurance Sector Despite Improvement in 2022
A recent sector report from the MPL Association found that in 2022, the MPL insurance market presented mixed results. While the industry’s combined ratio improved, posting its best results since 2017, the industry hasn’t generated an underwriting profit in nearly a decade.
Examining the severity of claims from 2015-2019, in 76% of closed claims no liability was attributed to the APC. In 20%, settlements were reached, while 3% were resolved through alternative dispute resolution methods or contract liability agreements. Additionally, 1% were resolved through early offers, and less than 1% resulted in a favorable outcome for the plaintiff.
Contact for more information:
Kwon Miller, Analytics Manager kmiller@MPLassociation.org