Thoughtful workforce transitions in higher education
One way higher education institutions are responding to financial challenges caused by the COVID-19 pandemic is to rethink their staffing models and reduce faculty and staff costs.
The recent medical professional liability insurance market has seen healthy profits for nearly a decade, but has been stuck on the same straight path of lower rates and lower levels of written premium during that time. As MPL companies’ rates continue to slowly erode, the market dynamic is similar to the stop-and-go highway traffic pattern dubbed “the Slinky effect.” While no one in the industry believes the current situation can last forever, any visible change in the current soft market is still some years off.
This article was first published in Medical Liability Monitor.