Jansen & Hastings Long Term Care CAT Cover (CareSurance)
Jansen & Hastings provides a comprehensive liability insurance program designed to meet the needs of Skilled, Assisted and Independent Long Term Care (LTC) facilities across America
Introducing Jansen & Hastings LTC CAT Cover
Competitively priced excess liability cover for LTC facilities is finally available. This product known as CareSurance CAT has been specifically designed to meet the demands and specific risk profile of both skilled and assisted living facilities, offering a $5,000,000 catastrophe layer either standalone or in excess of their existing primary liability cover. By designing the policy to react specifically to multi-resident catastrophe events CareSurance CAT provides the right cover without unnecessary cost.
How CareSurance™ CAT Works
The CAT policy can be purchased either standalone or in excess of the facility's current primary liability policy, with an aggregate limit of $5,000,000 and a deductible between $500,000 and $5,000,000.
The policy is triggered by any event specifically identifiable in time and place (e.g. fire, flood, hurricane, or single source abuse) where five or more residents bring a claim against the LTC facility.
Claims have a single resident cap of $1,000,000 and carry an additional $10,000 deductible per claimant. This ensures that the policy only responds to genuine multi-resident catastrophe events, matching the demands of the modern US nursing home.
Competitive Excess Liability Premiums
With nursing home litigation being one of the fastest growing areas of healthcare liability in the US, premiums in this sector have been traditionally high. However, our innovative catastrophe cover enables us to provide substantial limits at a fraction of the cost of most $1m primary policies, with premiums starting at $10,000 per $1m
Key Features
CareSurance™ CAT provides an innovative solution to your excess liability needs:
- Most competitive way to purchase excess liability cover for LTC facilities
- Professional and General Liability (including Products and Completed Ops Liability)
- Sexual Misconduct and Physical Abuse Liability
- Available as a standalone policy or in excess of existing liability cover
- All risks trigger, subject to the event being identifiable in time and place
- Cover for abuse claims originating from a single cause
- An incident sensitive trigger - a lawsuit does not have to be brought against the client or the policy to respond - it responds to any incidents which could give rise to a claim
- No compulsory risk management
- Aggregate limit of $5,000,000 in excess of between $500,000 and $5,000,000 per claim, with a minimum premium of $50,000.