ACE Expands Liability Coverage for Assisted Living, Long Term Care Facilities

April 21, 2015

ACE Group has introduced four new medical liability coverage endorsements, designed to provide more comprehensive protection to the expanding long term care healthcare sector.

The new endorsements include: media event expense; disciplinary proceeding defense; emergency evacuation expense; and patient property damage coverages. These are available for skilled nursing facilities, assisted living facilities, independent living units, and continuing care retirement communities.

Designed to supplement ACE’s current long term care facilities professional and general liability product offerings, the endorsements offer reimbursement for unplanned expenses that long term care entities may face if a harmful event occurs.

The new long term care facility endorsements include the following coverages and benefits: (Limits up to $25,000; additional limits may be available based upon our underwriting guidelines and account characteristics):

  • Media event expense coverage endorsement:
    Provides reimbursement for expenses incurred by the insured as a result of a covered media event. The endorsement helps a facility mitigate the financial and reputational risk associated with negative media attention, or publicity resulting from an incident, claim, or investigation.
  • Disciplinary proceeding defense coverage endorsement:
    Provides reimbursement for expenses incurred by an insured in the course of a disciplinary proceeding. The endorsement provides reimbursement for covered legal fees and expenses required to defend an insured provider if an investigation, proceeding, or other pending matter is instituted by a federal or state professional licensing board against the insured.
  • Emergency evacuation expense coverage endorsement:
    Provides reimbursement for expenses incurred by the insured as a result of an emergency evacuation of the premises. The coverage endorsement helps to decrease the financial impact of an emergency situation that requires an evacuation of patients. Reimbursement is available for certain expenses incurred as a result of the evacuation, including the costs associated with the transportation and relocation of patients.
  • Patient property damage coverage endorsement:
    Provides reimbursement for property damage to patient’s personal property while the patient is being treated at the facility. The endorsement helps defray the cost of claims by patients for certain lost, stolen, or damaged articles. The aggregate limit of insurance for the various endorsements is separate from, and does not erode, the professional liability or general liability limits of insurance. Further, the limits are not subject to any policy deductibles.

ACE Medical Risk Group offerings include primary and excess medical professional liability for hospitals, and miscellaneous healthcare facilities, and managed care errors and omissions coverage. In addition, ACE offers products liability for clinical trials, biotechnology, and specialty pharmaceutical companies, as well as a comprehensive package policy that includes property, auto and crime coverages through its Life Sciences unit.

Insurance is provided by insurance companies within ACE Group. All products may not be available in all jurisdictions.

Topics Property Professional Liability Senior Care Medical Professional Liability

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