Munich Re Specialty Insurance's Senior Living Facility product includes shared and per location professional and general liability limits, employee benefits liability and employers liability.
PRODUCT: Senior Living Facility product
COMPANY: Munich Re Specialty Insurance (MRSI); The Princeton Excess and Surplus Lines Insurance Company
BEST RATING: A+
AVAILABILITY: Appointed agents, brokers and wholesalers only.
FOCUS: In today's challenging healthcare environment, healthcare professionals need protection against a wide array of risks. Munich Re Specialty Insurance's Senior Living Facility product offers a broad scope of customized solutions, a high level of healthcare safety and risk management expertise, and superior service.
“Driven by a decade of softening market conditions combined with increased frequency and severity of loss, the senior living facility marketplace has experienced several years of insurer capacity reduction and retrenchment," says Tyler Coleman, head of healthcare excess & surplus, MRSI. “The Senior Living Facility product broadens the MRSI E&S portfolio and supports our targeted distribution partners."
COVERAGE DETAILS: National primary and umbrella capability up to $10 million is supported by a combination of internal and external risk management services.
Coverage highlights include shared and per location professional and general liability limits, employee benefits liability, employers liability, and hired and non-owned automobile coverage, as well as a tailored deductible and self-insured retention options.
Supplementary coverages include professional employee disciplinary actions coverage, facility evacuation expense coverage, business crisis management expense coverage, public relations events expense coverage and resident loss of property coverage.
MRSI's Healthcare Loss Control team of industry experts with healthcare safety and risk management expertise offer proven tools and tactics to support safety and risk management strategies, such as on-site risk assessments, research and analysis on healthcare subject matter topics including case law and regulation, and customized healthcare safety and risk management educational presentations.
UNDERWRITING: A current industry application, five years of currently valued loss runs, and key risk management documents are required.
MINIMUM PREMIUM: N/A
TARGET: All facets of the aging services industry such as skilled nursing facilities, assisted living facilities, independent living facilities and continuing care retirement communities.
COVERAGE AVAILABILITY: All U.S. states
COVERAGE TERRITORY: All U.S. states
CONTACT: Tyler Coleman, head of healthcare excess and surplus, Munich Re Specialty Insurance; 312-993-3601.
Will Jones is IA editor-in-chief.