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Nursing homes or chronic care facilities

Nursing Home Liability

With ample capacity in a nursing home and long-term care liability insurance, competition remains strong among carriers. However, clouds have been gathering on the horizon, with the convergence of three separate events threatening to create a perfect storm in the marketplace.

Increasing Claims

Claim frequency and severity has been climbing for the past several years, with nursing home litigation being one of the fastest-growing areas of health care litigation. In a recently published report on an actuarial analysis of the long-term care sector, it was stated that long-term care frequency is increasing by 5% annually.

Severity is a concern as well. Consider a few mega-claims in the past few years:Read More »Nursing Home Liability

Insurance for Apartments

Insurance for High Hazard Apartments and CondosCalifornia recently passed legislation that prohibits insurance carriers from considering level or source of income of residential-tenants in the underwriting evaluation of apartment risks.
Therefore, admitted insurance carriers will no longer approve, issue or renew an apartment policy (insurance for apartments) based on information related to a tenant’s level or source of income, including receipt of government subsidies. In the same time, many policyholders are considered to be higher hazard and thus can’t get a decent insurance protection. For example, a high hazard operations for an apartment building would include:Read More »Insurance for Apartments