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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

California 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