Schaumburg, Ill. (July 25, 2018) – Assurance, a Top 50 U.S. insurance brokerage, and Michael Maglaras & Company, an international captive insurance consulting firm with headquarters in Ashford, Connecticut, announce the launch of the “AssureCap Advantage” program, designed to meet the insurance and risk management challenges of the senior living services industry.

A unique and thoughtful approach to insuring the burgeoning skilled nursing, assisted living, rehabilitation, and independent living business, the AssureCap Advantage program has been organized through the creation of AssureCap Indemnity, LLC, a protected cell captive domiciled in Vermont, which is supported by some of the captive insurance industry’s strongest and most experienced service providers. 

“The AssureCap Advantage program has been specifically designed to meet the challenges of insuring the exposures of the senior living industry,” said Marty Butler, Senior Vice President and Senior Living & Not For Profit Practice Leader at Assurance. “Our collaboration with Michael Maglaras & Company assures that our existing clients have the benefit not only of Assurance’s vast experience with managing the risk of senior living communities, but also the more than thirty-five years of captive experience that Michael Maglaras & Company brings to the table.”

Michael Maglaras, Principal of Michael Maglaras & Company, said, “AssureCap Advantage is very much a curated program...we’ve carefully assembled a collaborative team that includes Pinnacle Actuarial Resources, Paul Frank + Collins, AIG Captive Management Services, and Western Litigation, to make certain that community owners and their staffs can understand their exposures, manage risk and have access to the tools they need to improve quality and enhance the care they're pledged to provide.” Maglaras added, “This program will turn this segment of the health care industry around in terms of performance and outcomes...and that process starts now.”

“With more than 10,000 people each day turning 65 in the U.S....combining a captive retained-risk platform with needed regulatory coverage from Lloyd’s of London, and Assurance’s own cutting-edge approach to managing health care outcomes through its Assurance Advanced Advocacy program, AssureCap Advantage is the model for the future of senior living underwriting, claims management and risk management,” said Dan Klaras, President of Assurance. 

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