Protx: Insuring Independent Living Facilities

The senior housing market has shifted over the last several years from a niche market to a major specialized market, with the long-term outlook for this property sector increasingly positive as the senior population explodes. One sector that has experienced growth within this niche is independent living facilities. These facilities offer a multi-family design to those seniors who are less active and who may have difficulty with routine housekeeping. They are similar to senior apartments, but offer several additional services, such as meals, housekeeping, transportation and organized group activities.

Our Independent Living Facility Insurance Program

Protx Risk Management is well positioned to assist agents and brokers in leveraging this expanded market with our focused underwriting expertise and specialized insurance products from a broad network of carriers with which we have fostered longstanding relationships. Our portfolio of insurance lines for independent living facilities include:

  • General Liability: We can design the program to include All-Owned Premises coverage,
    Product-Completed Operations, Personal and Advertising Injury, Medical Payments, Property Damage to Others and Defense Outside the Limits.
  • Professional Liability: Depending on the risk, we can provide Professional Liability along with the General Liability insurance program or as a separate policy. Physical and Sexual Abuse coverage is included.
  • Automobile Liability: Large liability limits are available as well as Comprehensive (Other than Collision) and Collision and Non-Owned & Hired coverage.
  • Property Insurance: A wide range of coverages and endorsements are available to cover the property’s building and contents as well as Business Income insurance to protect against losses that can shut down a facility while repairs or rebuilding takes place. Some enhanced coverages that can be included are Replacement Cost Coverage, Tenant Contents Coverage and Patient & Tenant Relocation Expense Coverage.

We also can provide Medicare Billing Liability, Cyber Liability, Employment Practices Liability, Crime and Workers’ Compensation through our markets.

In addition, we provide assistance before a claim occurs to minimize incidents and the potential for lawsuits with comprehensive risk management strategies available through our carriers. This not only helps with improving your insured’s risk profile but also with keeping the facility’s census up.

Rely on Protx to provide you with the ability to customize your insureds’ protection plans.