As the owner or operator of a retirement facility, you face unique risks and insurance challenges.

Coverage must include:

• Protection of your physical property, including facilities, grounds and equipment
• Workers’ compensation for employees who face risks ranging from back injuries to latex allergies and exposure to pathogens.
• Professional liability (malpractice) coverage
• Directors and Officers coverage
• General liability coverage

Workers compensation and professional liability risks are of particular concern in retirement facilities, and risks vary depending on the relative health and ambulatory abilities of the residents. At one end of the spectrum, where residents can freely move about and maintain their faculties, your workers face the potential of physical and sexual assault, and the residents are prone to slips and falls that can result in broken bones. At the other of the spectrum, where patients are bed-ridden and cannot provide any care for themselves, your workers face significant risks of back and neck strains and injuries as they lift the patients and turn them in their beds.

Professional liability lawsuits may not be filed until several years after the alleged incident and the results of the lawsuit may not be known until years later. Proactive risk management strategies are essential to strengthen your position when facing a potential lawsuit and to avoid becoming a target of frivolous legal actions.

For these reasons, we that every retirement facility should have comprehensive proactive risk management programs in place. These programs include risk assessments, audits, training, and recommendations for proactive improvements. Most importantly, risk management programs should foster positive and permanent culture change within the organization.