Citing the financial strength of the parent company, the insurance ratings firm upgraded the ratings of Bermuda-based Hiscox Insurance Co. (Bermuda) Ltd., U.K.-based Hiscox Insurance Co. Ltd. and Guernsey-based Hiscox Insurance Co. (Guernsey) Ltd.

Moreover, AMBest credited Hiscox’s consolidated risk-adjusted capitalization and underwriting performance, noting that the group has an average five-year combined ratio of approximately 90%. The ratings firms also singled out Hiscox’s strength in the Lloyd’s of London market.

What that means for you? It means that you can get insurance coverage from a reliable company. Certainly, you can go direct to Hiscox and get your quotes and start coverage same day. However, if you are in need for a professional review and assistance contact Paperless Insurance Services, Inc. We have access to Hiscox and several other markets that are specializing on general liability and errors & omissions insurance, such as Philadelphia Insurance Companies, The Hartford, Travelers and CNA. Our highly experienced staff is always here for you. We will review your past and current operations, current insurance coverage and suggest on anything that may help you to to shift the risks. And everything is of course at no cost to you.

According to a report from specialist healthcare insurer Hiscox, the large losses keep on getting larger with juries in the last two years alone awarding more than $1 billion in total damages for just seven medical liability cases.

The rise in large claims is happening despite the clear benefits of the implementation of quality and patient safety measures, Hiscox said.

Record awards are being made in cases ranging from inadequate staffing at nursing homes to medical negligence in hospitals. Seven states have recently declared their largest ever medical malpractice awards, according to the report.

While many healthcare institutions continue to risk manage their more modest loss levels well, many others are experiencing mid-sized losses getting steadily larger together with a rise in frequency of catastrophic medical loss, the insurer said.

Also, while some cases have been, or will be revised down on appeal, there are clear signs that the overall trend in “super losses” is upwards.

Among the recent “super losses” cited by Hiscox: