Convergence in pricing of US, London and other international markets is creating increased opportunities to provide options to clients.
As previously observed in the bulletin this year, the US market has tightened after continuing bad losses. London underwriters in particular had stood firm on what they considered reasonable technical pricing, and as rates increase domestically, so they are now much more in play.
Among the recent examples of Miller wins is the placement of professional liability/general liability for a multi-location healthcare and rehabilitation company with well over 10,000 beds. This is a sophisticated insured that uses its captive to help fund its risk transfer strategy. For commercial reasons there was a shift in approach and this led to more risk coming to the open market. The primary was the key to creating a successful new programme.
Miller's Healthcare expertise
We also recently worked with a US intermediary to design a professional and general liability programme structure for a healthcare firm that has a particular focus on post-acute care. The new business win consolidated numerous domestic placements, providing an alternative to toughening market conditions and delivering a saving on the insured’s premium.
Also in this edition, see news about Active Assailant, with more healthcare firms now binding coverage.