Risk Retention and Management Implications of Medical Malpractice in the Italian Health Service

Ilaria Colivicchi (), Tommaso Fabbri and Antonio Iannizzotto
Additional contact information
Ilaria Colivicchi: Department of Economics and Management, University of Florence, Via delle Pandette, 9, 50127 Florence, Italy
Tommaso Fabbri: Department of Economics and Management, University of Florence, Via delle Pandette, 9, 50127 Florence, Italy
Antonio Iannizzotto: Department of Economics and Management, University of Florence, Via delle Pandette, 9, 50127 Florence, Italy

Risks, 2024, vol. 12, issue 10, 1-23

Abstract: This work provides an economic exploration of the multifaceted world of medical malpractice risk. Third party liability insurance plays a central role in protecting healthcare providers and public care institutions from the financial consequences of medical malpractice claims, although in recent years, the industry landscape has been characterised by periods of distress for this type of protection, with rising litigations and reimbursement costs, resulting in a peculiarly complex market. For the Italian context, the study focuses on the financial repercussions for healthcare institutions of the growing trend towards risk retention practises, legally empowered by the introduction of Law No. 24/2017. The analysis employs Generalised Linear Models for the regressive approach to incorporate the structural and organisational characteristics of hospitals and uses quantitative simulations to explore different scenarios at a regional aggregate level. Due to the limited existing literature and data on the topic, this research aims to provide new methods for effectively understanding and managing this type of risk, thereby supporting decision-making processes in the healthcare sector.

Keywords: medical malpractice; risk retention; risk management; generalised linear models; insurance market (search for similar items in EconPapers)
JEL-codes: C G0 G1 G2 G3 K2 M2 M4 (search for similar items in EconPapers)
Date: 2024
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2227-9091/12/10/160/pdf (application/pdf)
https://www.mdpi.com/2227-9091/12/10/160/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jrisks:v:12:y:2024:i:10:p:160-:d:1494009

Access Statistics for this article

Risks is currently edited by Mr. Claude Zhang

More articles in Risks from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().