NAS Insurance has launched a professional and general liability insurance program for owners of residential care facilities for the elderly (RCFEs). The coverage is designed to help California RCFE owners comply with the July 1, 2015 deadline to maintain liability insurance in an amount of at least $1 million per occurrence and $3 million in the annual aggregate to cover injury to residents or guests.
“Since California passed Assembly Bill 1523 last year, we’ve been seeing a steady increase in demand for this program,” remarks Brian Alva, vice president of Underwriting at NAS.
Alva added the product was developed to provide an affordable and comprehensive policy to comply with the California insurance requirements and offer a simplified application process.”
The insurance is secured by Lloyd’s of London.
NAS Insurance also introduced RCFEinsure.com to provide information about the California insurance requirements and to help connect facility owners with insurance brokers that specialize in this area.
NAS Insurance is a full-service specialty insurance underwriting manager that provides innovative product development, underwriting, marketing, risk management, and claims handling services for a broad range of specialty insurance products.
Topics California
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