Whether you are a brick and mortar continuing care retirement community or one of the new programs that allow aging adults to stay in their own home, your business has risks that come with caring for vulnerable individuals. Your CCRC insurance should not only provide coverage for your business, but it should assist you in mitigating the risk by providing information for you based on the trends of the industry.
Many claims can be prevented just making sure your staff and volunteers know the policies you have in place. Having a good risk management policy is the first thing. Then, you have to provide the training to ensure everyone understands their responsibilities. Then, you have to have a method to check that they are following the proper procedures, a quality check.
Your CCRC insurance company has resources that help you maintain safety procedures. Theres no reason you need to re-invent the wheel then they have the information to assist you. They keep up with the industry and know where the risks are. Work with them and utilize their own data to help you maintain your insurance costs.
General liability insurance used to be enough to protect your business. Now, its important to make sure you have a complete package of sexual misconduct, workers compensations, and directors & officers insurance, as well as any other recommended products that mitigate your risk. Protect your greatest asset with the insurance you need.