To meet the needs of small, large or multi-unit senior living facilities, Fireman’s Fund Insurance Co. is now offering Property-Gard, a coverage specifically created to protect residents, guests, property and income streams of senior care facilities.
With the first of the baby boomer generation having reached the age of 60, the number of seniors entering residential communities is rapidly growing, and senior living businesses – from independent and assisted living facilities to skilled nursing centers, and continuing care retirement communities (CCRC’s) – are expected to continue to grow over the next decade.
Property-Gard coverage promises to help ensure the success of these businesses by offering enhancements that address key protections for risks such as contaminated food, communicable diseases, emergency vacating, property of residents and medical staff, employee theft, lost keys, and mobile medical equipment.
The policy also offers the following solutions and coverage:
Crisis management coverage to protect the reputation of senior care facilities.
General and professional liability on an occurrence basis – not a claims-made-basis.
Prior acts coverage that bridges any gaps that may occur when moving from a claims-made to an occurrence form.
Specialized coverage for sexual misconduct and physical abuse vicarious liability.
As an additional coverage option, Fireman’s Fund offers Green-Gard Building coverages for owners of senior living facilities who want to capture green benefits. Under Fireman’s Fund Green Building Replacement, Green Upgrade, and Commissioning coverages commercial property owners and managers are able to rebuild and replace their operations with green alternatives such as:
Non-toxic, low-odor paints and carpeting
Energy Star-rated electrical equipment
Interior lighting systems that meet LEED or Green Globe requirements
Water efficient interior plumbing
The Property-Gard full-service package also includes specialized services for complete asset protection. A Fireman’s Fund senior living loss control specialist will review care facilities to identify risks, reduce injuries, and control property damage, auto and liability claims.
Source: Fireman’s Fund
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