Encino, California-based
NAS Insurance this week announced the launch of a professional and general liability program designed to help residential care facilities comply with an upcoming regulatory deadline.
The coverage is intended for owners of Residential Care Facilities for the Elderly (RCFEs), who must carry liability insurance in the amount of at least $1,000,0000 per occurrence and $3,000,000 in the annual aggregate to cover injury to residents or guests by July 1.
The insurance is secured by Lloyd’s of London.
“Since California passed Assembly Bill 1523 last year, we’ve been seeing a steady increase in demand for this program,” said Brian Alva, vice president of underwriting at NAS. “This innovative NAS product was developed to provide an affordable and comprehensive policy to comply with the California insurance requirements and offer a simplified application process.”
In addition to the insurance program, NAS has also introduced RCFEinsure.com, which provides further information on the state’s new requirements. The site is designed to help facility owners connect with local insurance brokers that specialize in RCFEs and the general area.
“Our liability insurance program has been widely recognized among assisted living, personal care and independent living facilities around the country,” said Matthew Thoburn, product manager for NAS.
“With over 8,000 licensed facilities in California alone, we’ve built RCFEinsure.com to help facility owners quickly find an agent and obtain coverage by the July 1 deadline.”