5 Ways the AssureCap Captive Can Save Your Senior Living Community on Professional Liability Costs
Many senior living organizations are seeking alternative solutions to their current professional liability insurance program. It’s a tough market, so senior living owners and operators are looking for creative ways to manage the severity and frequency of claims and take control over rising premiums. AssureCap Advantage program has been specifically created and designed to meet the unique challenges of insuring the senior care sector.
Here are 5 ways that AssureCap Advantage can help your senior living community save money:
- Controls premium flow and recaptures the bulk of premium expense
- Controls the cost, availability and structure of the insurance purchase process
- Creates a claims management program focused on improved outcomes and claim reduction
- Provides choice of defense counsel and careful management of claims with and without merit
- Tailors coverage terms, limits and conditions unique to each member’s business model, enhancing expansion/acquisition, and supporting the mission and values of each organization
Now how is AssureCap different than a normal professional liability insurance program?
- Insurance limits chosen by the insurer
- Claims management under the carrier’s control
- Premiums paid to and retained by the carrier regardless of outcome
- No cash flow or investment income from premiums paid
- Insurance limits at member discretion
- Responsive unbundled claims management and choice of counsel
- Premiums paid to the cell captive and positively impacted by risk and quality improvements
- Greater cash flow and the potential for investment income and tax benefits
Interested in more details about how the AssureCap Captive can help your organization? Contact the Assurance ‘A’ Team today!
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