When physical or mental health issues rob people of their independence, they may find themselves in need of an Assisted Care Living Facility. These facilities are for people who need supervision or assistance with the activities of daily living, and they usually harbor a philosophy of care and services promoting independence and dignity for their residents. While they are sometimes occupied by elderly people for whom independent living is no longer a viable option, they are not the same as a nursing home or retirement home, where 24-hour medical care is a common component. For those folks, Assisted Living Facilities are often a bridge between living at home and living in a nursing home.
Because these facilities are often filled with people at a physical or mental disadvantage, there has been much attention paid to corruption in the industry. Reports of theft of personal property, physical/verbal/sexual abuse, negligence, incompetence and coercion have made headlines in the media from time to time. Any business that is entrusted with the well-being of patients is going to be exposed to the potential for risk. Liability for services rendered, as well as for the facility itself are just part of the coverages needed for these types of businesses. There is also a need for commercial auto liability, and the property and professional liability coverages need to include specialized enhancements for the Healthcare industry.
For your clients that are in the Healthcare/Assisted Living Facility business, USRisk has a great program called, appropriately enough, “Assisted Living Insurance.” This program is offered by USRisks’ team of Healthcare specialists, and it is comprised of a package of services which includes insurance, risk management and claims service. By focusing on a full service approach USRisk is able to offer competitive rates for assisted living insurance coupled with superior “in-house service” to assist your clients on an ongoing basis. This program is available in most US States and Territories, and the carriers are all rated “A” or better.
For more information come and connect with me on CompleteMarkets.com for weekly updates or visit our Assisted Living Insurance storefront.