A recent insurance report indicates that liability insurance rates for nursing homes are projected to see an increase. An actuarial analysis from insurance broker Aon and the American Health Care Association (AHCA) said that overall loss rates for the long-term care sector are predicted to increase by 6% per year. The Aon-AHCA report indicates that projected loss rates nationally could increase to $2,350 per skilled nursing resident in 2017. Additionally, the report states that nursing homes can expect to have at least one claim per 100 beds.
There were 31 providers represented in the national study operating approximately 224,000 long-term care beds. This consisted of skilled nursing facility beds and a number of independent living, assisted living, home health care and rehabilitation beds, and represented approximately 17% of the beds in the United States, and six of the 10 largest operators in the country.
An interesting finding from the report was the geographical variation for loss rates limited to $1 Million per occurrence:
If a facility you know is experiencing rising premiums - we can help!