Where Has My Malpractice Insurance Gone?

Nowhere if you=re an AIM insured. It is still here and available as it has been since July 1, 1989. Recent adverse trends in medical malpractice, property and casualty insurance and September 11 loses have caused some commercial insurers to re-evaluate their desire to support attorneys malpractice insurance. Nationally, some carriers are withdrawing from the market, others are raising rates and/or restricting coverages.

While the situation is not presently as severe as the crisis faced in 1986-87, it has affected many Alabama attorneys not insured by AIM. One commercial carrier has ceased writing attorneys malpractice insurance in Alabama and nationwide. Another carrier, an old-line insurer suffering severe medical malpractice losses, is raising premiums 30% and more and reducing coverage. Commercial insurers, on the other hand, generally premium rates that fluctuate greatly. They often withdraw from the market place when it is to their advantage to do so.

AIM takes pride in reporting that its insureds are again enjoying stable premium rates this year. AIM, since its inception, has maintained stable premium rates. It provides a source of consistently stable insurance for quality-conscious attorneys who are concerned about receiving local underwriting and claims handling attention. AIM foresees no change in its ability to continue its mission.