As the health care industry adapts to changes necessitated by Affordable Care Act implementation, the vast majority of health systems and smaller health care organizations saw increases to their primary and total D&O rates in the third quarter.
According to “As Reform Takes Effect, Health Care D&O Rates Increase,” as companies establish provider networks and enter into new payer contracts, they face additional risks and expanded errors and omissions exposures. Insurers have responded with rate increases:
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Although not all insurers are seeking dramatic changes,some are pulling back on offering full policy limitdefense coverage. In addition to seeking significant priceand retention increases, one insurer that has taken aparticularly aggressive stance has restricted availabilityof antitrust coverage to a maximum of $5 million acrossall financial and professional lines.