Property (Ultimate Cover), Nursing Home Auto Coverage; Crime Coverage Form PI-ULT-009; and Nursing Home Cyber Security Liability Benefits. These four new products supplement SCI’s other offerings for the aging service industry market, which includes Personal and General Liability.
“During our brief history, we have developed a niche for offering insurance products to nursing homes, assisted living facilities, continuing care retirement communities and other care providers that serve the aging service industry. The focus of the facility continues to be on “tougher to place” aging service accounts. To better serve our current client base and attract prospects, we have added coverage where there is also a need at facilities of this nature,” said Rob Jurgel, president of SCI Underwriting Management, LLC.
The Ultimate Property Cover Program (UC) provides a very broad cause of loss coverage form for both real and personal property. This form was designed to cover property risks with above average protection and construction. The UC was designed with flexibility in mind; it can be extended to include simplified language Inland Marine and Crime coverage’s.
Nursing Home Auto Coverage covers owned auto including transportation of residents; non-owned/hired auto; hired car physical damage; and rental reimbursement for private
passenger vehicles. Garage keepers liability coverage is also available. Minimum liability limits are $1,000,000 and minimum physical damage deductibles are $500/$1,000.
Crime Coverage Form PI-ULT-009 provides automatic limits of $5,000 each for Money and Securities Inside the Premises, Money and Securities Outside the Premises, and Money Orders and Counterfeit Paper Currency. Any of these limits can be increased for additional premium. There is also a $25,000 limit for Kidnap and Ransom-Extortion. The form also provides options for adding coverage for Forgery or Alteration, Computer Fraud, or Employee Dishonesty for additional premium.
Nursing Home Cyber Security Liability includes a number of important coverages, including coverage for damages to third parties caused by a breach of network security; coverage for loss resulting from administrative or operational mistakes; breach of privacy coverage, which includes damages resulting from alleged violations of HIPAA, state, and federal privacy protection laws and regulations;
“To get these four coverages, many of these facilities have to approach four different companies. And if they have had more than their share of claims, they can be shut out or pay an extremely high premium,” said Jurgel. “SCI not only provides one-stop shopping for these coverages but with our team of risk professionals, we can pinpoint problem areas and help that facility minimize risk.”
For more information, please visit www.sciunderwriting.com or call 781-378-1050.
Based in Scituate, Massachusetts, SCI Underwriting Management LLC is a Managing General Agency that focuses on accounts in the Aging Services Industry. Primarily backed by Lloyd’s of London, SCI offers a variety of insurance coverage for Skilled Nursing, Assisted Living, Independent Living, Continuing Care Retirement Communities, as well as Home Health. Part of their services includes risk assessment and risk management to target potential liabilities and minimize risk.
For information, please visit www.sciunderwriting.com or call 781-378-1050.