Long-term care facility operators are about to face some changes in the insurance marketplace. After a prolonged period of competition and relatively low rates, insurers are beginning to raise rates and becoming more selective about the facilities they write. Retail agents and brokers can help their senior living facility customers through these changing conditions in several ways, as discussed below.

Cyber threats may be virtual, but the costs are all too real – and rising. Few organizations would skip property or liability insurance, but many still don’t buy coverage to protect against increasingly frequent and costly cyberattacks. From accounting firms to trucking companies and non-profits, every enterprise with an internet connection needs to consider cyber insurance.

Property owners in thunderstorm-prone inland areas are learning the impact that catastrophe models can have on their insurance costs. While severe thunderstorm models have been around for years, carriers are now making greater use of them and asking for higher deductibles and percent deductibles in high-hazard areas.

Late notice of claims can result in denial of coverage and destroy an agent’s relationship with the insured. On
claims‑made policies, timely notice is particularly important for insureds. Here’s how retail agents and brokers
can help.

Claim denials are stressful for insureds and can strain their relationships with retail risk advisers. When an insurer denied a recent bodily injury claim, the insured’s broker turned to CRC Group for help. CRC’s Claims Advocacy Team went to work to challenge the claim denial.

Hurricanes dominated the headlines last year, but away from the coast, massive losses from thunderstorms, tornadoes, and wildfires continue to roil the property markets. Insureds that have become used to price cuts on non-coastal, non-cat driven business, now face possible rate increases and likely larger deductibles.
</p><p>
Our special report "Away From the Coast - Rain, Wind and Fire Roil Property," provides valuable information about market conditions away from the coast and shows why you should avoid neglecting these non-coastal accounts.
</p><p>
And as always, as hurricane season gets underway and is forecasted to be normal or above-normal, the experts at CRC Group are here and ready to help.

Winds of change are driving the property market in a new direction. Nature had been kind
for more than a decade, sparing the U.S. from major hurricanes and earthquakes. At the
same time, record-low interest rates lured tens of billions of dollars in alternative capital
into insurance markets offering returns well above the rock-bottom rates available on more
standard investments. The combination of new capital and relative calm combined to push
insurance rates lower year after year — until now.

Action-over claims can result in significant and unexpected liability for business owners, and these claims may not be covered by all commercial general liability (CGL) policies. For insurance professionals and their insureds, not only can an uncovered loss damage relationships, but it also can lead to litigation.

A variety of factors are impacting the long term care industry, including more than half a dozen venues around the United States known to be plaintiff-friendly attracting more lawsuits against LTC facilities and driving change in the marketplace.