Senior facilities might offer multiple services, from independent living to skilled care. One fact remains consistent: residents and their families expect safe and professional care. If they don’t receive it, lawsuits and other challenging claims may threaten the business. Will your insurance provide any recourse for such allegations?
If you have business liability insurance, you’ll likely be able to respond should something negative happen to a third party. Still, to do so, you’ll likely need a few different types of coverage.
Liability Risks in Senior Living
In senior facilities, liabilities might prove physical, financial and personal. Those most at-risk are usually residents and other clients of the business.
Here are just a few of the liabilities that might exist within your facility:
- Slip-and-fall risks: Such incidents might threaten anyone walking in the facility. For example, a patient might fall on a wet floor. Or, a visitor might slip on a mat by the front door and suffer injury.
- Property damage risks: Many residents will have personal belongings that could sustain harm due to the business’s mistakes.
- Abuse risks: Bad actors might harm or mistreat residents (and others). The business, not just the responsible party, might face legal challenges.
- Mismanaged care: Facilities that don’t offer the right care for patients might wind up harming the individual.
- Improper clerical practices: Clients expect you to provide them with accurate and concise communications, both financial and personal. Should your services cause them a personal loss, they could allege that you are at fault for the damage.
In cases like these, you will often have options available under various liability insurance policies.
The Protection You Need
Liability insurance is not one policy. It comes in multiple shapes and sizes. Your facility will likely need several policies, like:
- General liability insurance: Coverage commonly insures bodily injuries and property damage liabilities. The example of a slip-and-fall above will likely fall under this coverage.
- Errors & omissions coverage: This policy pertains to clerical, rather than physical, mistakes. Allegations of mismanaged patient care often have protection under this coverage.
- Directors & officers coverage: Lawsuits often target business principals, like CEOs, individually. This coverage can protect their personal assets in case of legal challenges.
You can’t simply take any liability policy on the market. You must have coverage tailored to a senior facility’s needs. Policies will thus insure industry-specific losses. Talk to your Dallas commercial insurance agent about the exact nature of services you offer. They can likely help you determine the right course of action.