Healthcare organizations, already under financial pressure from the changing reimbursement system, now face a hardening D&O liability insurance marketplace. In this article, CRC offers insights on how retail agents can help their insureds navigate the difficult environment.

The health care sector is caught in the crosscurrents of the opioid crisis. Easing pain is an integral goal of medical treatment, and when it comes to severe pain, prescription opioids have proven very effective. Opioid pain relievers, however, can be highly addictive and are often abused.

A market correction in liability insurance for senior living care facilities is already underway. Accounts in this segment are beginning to see steep increases at renewal. Continuing claims frequency and increasing severity in senior services are prompting insurers to raise the cost of coverage. Retail agents can provide valuable guidance to their clients through these changing conditions. Providing underwriters with additional details — especially about improvements to facilities’ operations and staffing procedures — can enhance a client’s risk profile and result in more favorable consideration of the client’s account. Here are some tips to prepare operators of senior living care facilities for the market shift and to state their case to underwriters.

Will premiums increase? Are terms and conditions changing? What lines of business have limited markets? Which lines of business have excess capacity? Here’s what clients can expect in the marketplace for 2019 in a quick and easy to read reference guide.

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.