Medical Malpractice Insurance Premiums are on the Rise in Oklahoma, According to Fifth Avenue Healthcare Services

TULSA, Okla., Nov. 16, 2021 /PRNewswire/ -- Medical malpractice insurance premiums are seeing increases of 10-15% on average in Oklahoma. More details below.

Rising medical malpractice insurance premiums in Oklahoma can be attributed to two factors:

1. Rising amounts of jury verdicts and
2. Increases in re-insurance 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 carriers bottom lines and are showing up as underwriting losses. Re-insurance premiums are also a nationwide trend. Generally, all insurance risks end up "pooled" with other risks such as hurricanes, wildfires and civil unrest.

At Fifth Avenue Healthcare Services, we have expanded the use of our credentialing services to include relationships with multiple medical malpractice insurance carriers.

As we have delegation with payers, we have 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 for us to get you a medical malpractice quote, we can request a quote for you easily and quickly, with very minimal or perhaps even no additional paperwork.

Partnership with Fifth Avenue Agency

Our sister company 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 10 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 a Fifth Avenue quote, please contact Jim Mays directly at 405-562-2981 or Jmays@FifthServices.com and let him know you are a Primoris – Fifth Avenue Healthcare Client. For more information on Fifth Avenue Agency, please visit FifthAvenueAgency.com or Contact Us.

For more information on Fifth Avenue Healthcare Services, please visit FifhtAvenueHealthcareServices.com or Contact Us.

Contact Information: Curt MatlachCompany: Fifth Avenue Healthcare Services
Phone: 918-392-7880
Email: 323638@email4pr.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/medical-malpractice-insurance-premiums-are-on-the-rise-in-oklahoma-according-to-fifth-avenue-healthcare-services-301424522.html

SOURCE Fifth Avenue Healthcare Services