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The ABCs of Elder Care

The ABCs of Elder Care

As the Baby Boomer population continues to age, the number of assisted living facilities in the US grows. Everything from nursing homes to independent living communities, to those facilities with respite and Alzheimer’s care are available to the more vulnerable of our citizens: aging seniors. Working with the elderly can render these facilities vulnerable, as well. Abuse and other types of crime are easy to perpetrate, exposing elder care facilities to claims of abuse and neglect, whether it be physical or financial in nature. Here are insurance coverage options that every facility should have. Abuse, Neglect and/or Molestation The National Council on Aging (NCOA) reports that 1 in 10 Americans aged 60+ has been a victim of some sort of elder abuse. Seniors in assisted living facilities are particularly vulnerable to abuses of all kinds. Coverage for abuse and molestation should be included in your assisted living facility insurance portfolio. This coverage protects the facility not only against actual cases of abuse, but also offers legal help to those facilities that may be wrongly accused of abuse. This coverage is not included under a standard Commercial General Liability policy, as intentional acts are excluded from coverage. While it may be included under some package policies for care facilities, it may need to be purchased separately in some cases. Board of Directors Many assisted living facilities are run by a board of directors. As such, the board members themselves may be subject to scrutiny on a personal level due to decisions made as a board member. Directors and Officers Liability (D&O) insurance should be in the portfolio of any company...