Professional liability insurance rates--some history & solutions

The medical malpractice business, as with the property and casualty industry as a whole, is cyclical in nature. We have experienced peaks and valleys since the mid-1970s. History would tell us that profitability can be restored in time. Many in the professional liability insurance industry think that a return to stability is possible by 2004. The two most critical factors in restoring this profitability may be adequate pricing and tort reform--time will tell the story.