Product Update

Long-Term Care Facilities Liability Exposures and Underwriting Updated in Professional Liability Insurance


This Professional Liability Insurance release comprehensively revises the long-term care (LTC) facilities exposures section.

The update begins by summarizing the details of a study of LTC providers, conducted by the U.S. Department of Health and Human Services and published in 2016. The study offers critical insights about the five major types of LTC/elderly care facilities: nursing homes, adult day care centers, hospices, residential care communities, and home health agencies.

The study also produced data about demographic trends that will impact the LTC industry, such as the fact that, by 2035, 79 million people in the United States will be 65 or older. The section also makes available information about the 10 largest operators of LTC nursing home facilities and explains the manner in which Medicare and Medicaid fund such institutions.

This release also refreshes the section containing LTC facilities' liability claim data. Based upon an actuarial study just published by Aon in November 2017, this section discusses key loss frequency and severity trends and delivers a detailed analysis of claim causes, the most frequent of which involve pressure ulcers/wounds.

Next, the section updates legal and claim developments in three areas affecting LTC facilities: professional liability, general liability, and "hybrid" (i.e., both professional and general) liability. The update continues with details about how LTC insurance is underwritten and includes a section on how to prevent and control claims at these facilities.

The update concludes by analyzing several "alternative sources" for securing LTC insurance, including captives, risk retention groups, purchasing groups, and joint underwriting associations.

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