Medical malpractice premiums are increasing by 10-15% in Oklahoma.
Rising medical malpractice premiums in Oklahoma can be attributed to two factors:
- Growing amounts of jury verdicts and
- Increases in reinsurance costs.
The jury verdicts are not exclusive to Oklahoma. This is a nationwide trend over the last few years that has finally caught up to the carrier’s bottom lines and are showing up as underwriting losses. Rising medical malpractice premiums are also a nationwide trend. Generally, all insurance risks end up “pooled” with other hazards such as hurricanes, wildfires, and civil unrest, ultimately affecting the cost of medical malpractice premiums.
A partnership between Fifth Avenue Healthcare Services and Fifth Avenue Agency
Sister company, Fifth Avenue Healthcare Services, offers credentialing services and has expanded to include relationships with multiple medical malpractice insurance carriers. Because of credentialing delegation with payers, Fifth Avenue has an agreement with numerous medical malpractice insurance carriers to accept your completed credentialing file for underwriting purposes rather than have you or your group complete new, traditionally lengthy medical malpractice insurance applications. This means that to get you a medical malpractice quote, we can request a quote easily and quickly, with minimal or perhaps no additional paperwork.
Fifth Avenue Agency is the largest and longest-standing insurance agency specializing in medical malpractice insurance in Oklahoma. Fifth Avenue Agency represents almost every insurance carrier in Oklahoma, some of which are not seeing these rate increases. The team at Fifth Avenue Agency is highly experienced, with 75% of the team having more than ten years of experience and will put their talent, technology, and expertise to work, putting together a medical malpractice quote quickly and easily for you based on your credentialing file and relationship with Fifth Avenue Healthcare Services. For information on Fifth Avenue Agency, please visit FifthAvenueAgency.com or Contact Us.
More information about Fifth Avenue Agency
Fifth Avenue Agency specializes in MPLI and medical malpractice insurance, serving 1000s of providers across the country. Fifth Avenue Agency is part of the Fifth Avenue Healthcare Services family. Sister companies include 5ACVO (credentialing and primary source verification specialists) and Primoris Credentialing Network (credentialing and provider enrollment specialists with 54+ health plan and network provider enrollment options).
For information on Fifth Avenue Agency, please visit FifthAvenueAgency.com or Contact Us.
