The U.S. health care system is fraught with risks. From traditional risks such as medical malpractice, professional liability and
workers’ compensation to the
emerging threat of cyber and new
technologies like telehealth and
telemedicine, the next big lawsuit may
be lurking just around the corner.
Last year’s spate of WannaCry
attacks shut down entire hospital and
health care systems across the world,
with hackers demanding millions in
ransom payments to unlock files.
Meanwhile, health care
organizations and hospitals are
continuing to grapple with health
care reform, with 30 million more
people entering the system under the
Affordable Care Act.
Add to that the shift from
fee-for-service to outcome-based
compensation and an aging
“There’s no way you can actively
predict risk in the health care sector,
because it keeps changing so rapidly,”
said Bridget Zaremba, AVP, health care
claims lead, QBE North America.
“The big increase in M&A
activity has resulted in a much
larger risk pool that runs to cyber
liability and class action lawsuits
around biometrics and experimental
procedures, antitrust claims and
the emergence of alternative care
methods, such as telemedicine.”
As health care risks continue to
rise, so do the costs involved. U.S.
health care spending topped $3.3
trillion in 2016, making it one of the
country’s largest industries by value at
18 percent of gross domestic product.
Captives and Liability
The flexibility of
captives is well-suited
to serve the rapidly
changing risks health
By Alex Wright
New exposures in health care are driving increased interest in captives.