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All You Ever Wanted to Know About Insurance



The Insurance Approach Based on Experience

No one can deny that the world is changing. With it, so are your challenges. As a nursing home, your facility deals not only with traditional duties like fall prevention – but with new demands, such as transitioning to an electronic health records system. Because of that, you need insurance coverage that can help manage a host of current exposures while providing the solutions for the challenges of the future.

PRIME’s partnership with CNA signifies collaboration with more than 50 years of experience in the healthcare industry. Moreover, as a trusted insurance leader, CNA is one of the top five underwriters of healthcare insurance products and services for a wide range of organizations.  Viewed as the “preferred provider” by LeadingAGE and the Assisted Living Federation of America, CNA can address your professional liability and property & casualty nursing home insurance needs.

CNA programs are tailored to meet the customized needs of both non-profit and for-profit organizations, including:

  • Skilled nursing and sub-acute facilities
  • Continuing care retirement communities
  • Assisted living facilities
  • Independent living communities
  • Memory loss facilities for dementia and Alzheimer’s care
  • Home and community-based services

What kind of coverage does your facility need?

While every aging services organization deals with unique exposures, liability coverage is a universal requirement, representing one of the most principal insurance decisions you will make.

General liability insurance focuses on a wide range of exposures, frequently created by dealing with third parties. These scenarios could include a visitor being injured on your premises or contractual obligations with a vendor or service provider. Professional liability coverage addresses claims alleging damages arising from an act, error or omission in providing or failing to provide professional services. This could be related to administrative services or healthcare services provided to a resident.

What about your property coverage?

Choosing property coverage is an important decision as well. CNA Paramount is a policy that provides your nursing home with an array of vital coverages for your property. Subject to conditions, it encompasses coverage available by endorsement for a resident’s personal belongings if they are lost or damaged while in your care, emergency evacuation expenses and fine arts coverage of up to $100,000 per item.

PRIME Insurance may also discuss other pertinent coverages with you such as:

  • Commercial Automobile, including cars and vans used for patient transport
  • Umbrella and Excess Liability
  • Employee Benefits Liability
  • Cyber Liability
  • Directors and Officers Liability

For eligible facilities with more complex needs, CNA in conjunctions with PRIME offers alternative risk-financing insurance programs. These include large deductibles, self-insured retentions, captive reinsurance, as well as group risk-sharing arrangements. PRIME Insurance can help you determine if these solutions are appropriate for your facility.

 The nursing home industry is unique. By acquiring the right coverage, you can be protected. Contact PRIME today to find out more.

One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. CNA is a registered trademark of CNA Financial Corporation. Copyright © 2014. All rights reserved. HC3589



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