Accidents and Mistakes Factor Into Nursing Home Insurance Rates

The main focus of nursing homes is to provide the highest quality of life for the residents living there. But from time to time situations arise where injuries, often unintentional, end up causing severe pain for the injured party and may require lengthy rehabilitation. The need for liability insurance for nursing homes is crucial, and preventing injuries from occurring can help to reduce nursing home insurance rates.

Attendants and nurses must be extra careful with regards to the services they perform for their residents. But when working with frail individuals, often in poor health, it can result in issues that will need to be addressed. Having this valuable coverage covers medical costs and any settlements brought against the doctors and staff. Here are a couple of the common claims normally associated with this industry that having a professional liability policy will help cover when purchased alongside other insurance policies.

Accidental injuries to residents

Many patients will require assistance getting in and of their beds or wheelchairs. Lifting a patient multiple times a day can easily result in accidents occurring, even though a patient may be receiving the utmost care. Even cautious staff members can have an occurrence where a resident winds up suffering an injury. An event of this type can spur lawsuits against a nursing home, and owners must be ready to defend the actions of their staff.

Medication errors are cause for alarm

Nurses operating within nursing homes usually have several patients that they care for daily, so there may be concerns when it comes time to dispense medication. Since each patient will more than likely require different medications, and at different dosages, nurses must be well organized. If the wrong medicine or wrong dosage is accidentally given to a patient, the results can have serious, even fatal, consequences.

These sorts of mistakes unfortunately do happen. For example, if a staff member at a nursing home mistakenly gives an Alzheimer’s patient the wrong drug for issues with their central nervous system, this could result in his or her blood pressure dropping so significantly that it results in the patient dying.

These are common risks and exposures that all medical personnel must be cognizant of, and are best handled by owners having liability insurance for nursing homes. Brokers who handle this line of business should look into ways that their clients can save on nursing home insurance rates.

Understanding the Complexities of Insurance CPP

For most small to mid-sized businesses, bundling a couple of standard property and liability policies is often a good way to go. This is commonly referred to as a business owner’s policy or BOP. But for larger or more specialized businesses, owners should seek out a company that offers a commercial package policy, or cpp insurance, which covers any combination of property, liability, crime and inland marine insurance coverages.

A CPP that includes equipment breakdown coverage will usually cover a wider range of issues that many of these companies often face, plus additional coverage is available to any and all qualified customers. Fortunately, a CPP is designed to add flexibility and customization that might not be offered in a standard business owner’s policy, or BOP. This policy also offers a great advantage to commercial clients that have a business with a higher than average risk, or for those owning the type of business that is generally considered “too unique” to fit into a standard one-size-fits all policy.

Many owners enjoy the benefits of purchasing a CPP

By packaging multiple policies into your cpp insurance, as the policyholder you will often be provided with extended coverage (and/or lower premiums) that you would otherwise not receive were you to purchase each policy individually. By taking advantage of these customized policies, you’re able to make one low payment that covers all necessary items and won’t end up paying for coverage that does not apply to your situation.

It’s equally important to know what’s excluded from your insurance cpp policy as well as knowing what’s protected. Customizable bundles don’t offer a couple of necessary items like workers compensation or directors and officers insurance. Workers Comp is required by law in most states depending on the amount of employees you have and must be purchased as a separate policy.

Directors and officers policies are necessary for non-profit organizations. Group life and disability policies are also separate items, each containing different policy choices and decisions. Think of it this way; policies that can be packaged together include items covering property and liability, as where items that cover people and HR must be purchased separately. When in doubt, ask a qualified independent agent.

Protecting Your Interests and General Liability Insurance in Florida

No business owner who understands that when a liability issue arises, no matter how much money you save by not carrying the right amount of insurance, the end result is that you’ve placed your business at risk, and quite possibly your personal finances as well. General liability insurance protects your business from claims by any person or business’s claims of bodily injury, along with any associated medical costs and property damage. Your business should not be treated like a casino, because you can’t afford to take that gamble.

Unfortunately businesses are being sued all of the time for things like negligence, libel, slander, property damage, bodily injury, and copyright infringement among other things. And businesses can even be sued in instances when they’ve done nothing wrong. One of the best ways to avoid a lawsuit is to run the safest operations possible, but that still doesn’t mean that an accident or some form of negligence isn’t likely to take place. This is why smart business owners make a point of purchasing general liability insurance in Florida as soon as they are up and running.

Improve safety and reduce risk

Running a safe business is the best type of risk management practice that money can buy. Conducting safety meetings, discussing past issues and finding solutions moving forward will reduce the number of accidents and errors, which is a type of insurance you don’t necessarily have to pay for. Make sure that when an incident occurs, it is fully investigated and documented. This way, you’re likely to avoid a repeat of the issue, because generally people learn from their mistakes.

Things covered by a commercial general liability policy (CGL)

General liability insurance offers some of the broadest business insurance coverage money can buy. It may be included in a business owner’s policy (BOP) or is also available as stand-alone coverage. A few of the risks a business could face that a CGL helps to protect against are bodily injury or property damage, reputational harm, advertising errors, medical payments, and any damages to the premises you are currently occupying. You also have an option to add a business entity or other individual parties to your general liability insurance in Florida, so speak to an agent about coverage options today.

Manufacturers and Insurance NM

Manufacturers in New Mexico provide products for many different types of businesses all over the US and as such, must deal with issues big and small, from product recalls and equipment breakdown, to customer claims of injury or illness due to products sold to them by these giants of industry. As a manufacturer, you need to know you have purchased the NM Insurance coverage you’ll want and desire to help with all of the challenges you’ll routinely face as a producer of products or merchandise.

Business property insurance for the backbone of your company

One thing you’ll need at the outset is business property insurance coverage for your manufacturing company regardless of any other coverage you might have in place. Depending on the location of your enterprise, local weather conditions could wreak havoc on your operations. Whether it’s a windstorm, fire or other unexpected event, you’re going to need help to protect your building location, inventory, and valuable manufacturing equipment.

Business liability insurance for when things go wrong

Serious or life-threatening accidents can happen suddenly and unexpectedly and they can also be financially devastating for any manufacturing business. Having business liability insurance can help you protect your business in the event that a customer is injured due to a product or service you provided to them. Even an injury caused by the packaging will be covered under this policy.

Workers comp for your faithful employees

One of the key expenses for any business is covering employee-related medical costs as a result of a job-related incident. In most states, manufacturing companies are required by law to carry workers’ comp insurance. Without your employees, most of who are dedicated to ensuring that products are assembled and delivered on time, your business could suffer tremendously.

So you certainly wouldn’t want them to suffer unnecessarily due to an injury they experienced while at work? Your insurance can quickly deliver some much-needed benefits for work-related injuries and illnesses sustained by your employees.

Running a business takes a lot of hard work. From the start of the day, until the clock says it’s time to go home, you always hope that everything will run smoothly and efficiently. But this simply isn’t always the case, which is why your Insurance NM is designed for all of your issues and concerns, which makes them the logical solution.

Advantages of a General Liability Rating System

General liability (GL) insurance is often the backbone or starting block of any business insurance plan. Without it, nothing stands between your clients and the costs incurred to their business when another business or individual files a claim of property damage, bodily injury, or associated medical costs.

Doing business without a GL policy is like jumping out of a plane without a parachute. Why allow good people to operate a business knowing they need to protect their company in everyway possible? Now, the trick is getting to get them coverage they need at a price they can afford. The competition is fierce and the less time invested in quotes and shopping around for the best offers, the better you can serve the marketplace.

This is where a General Liability Rating System comes into play. Program Administrations, MGAs and insurance carriers have the benefit of access to rating modules across all fifty states, allowing them to tailor programs with customized coverages to fit the niches they serve, making them more attractive and competitive in the marketplace.

GL insurance and what your clients can expect

A new business owner may need you to walk them through exactly what they are buying and what it covers. In simple terms, let them know that this policy covers a lot of basic needs, including:

  1. Bodily injury for when a client falls on their property and they are legally liable for the injury. They will be covered for the subsequent claim and related medical expenses up to their general liability policy’s limits of liability.
  2. Property damage and data loss resulting from accidents. For example, spilling a can of soda on a client’s server causing damage and loss of data.
  3. Personal injury involving claims of slander or libel. If someone visits the office of one of your clients and overhears an employee referring to them in a mean or unflattering way, or making false claims that soils his or her reputation, that person might easily decide to sue for slander.

These examples point out just how vital it is in this market to have GL coverage. A General Liability Rating System is just one way to make your job quicker and more efficient.

Municipalities and Aegis General Insurance Agency

Municipalities have a significant duty to protect the financial interests of their constituents. In most cities, counties, and other political subdivisions these city officials are like any other commercial insureds. They tend to have many of the same procurement, claim, and coverage issues that are often encountered by typical businesses.

If you’re a producer who provides municipality insurance to your clients then Aegis General Insurance Agency would like to help you to ensure your clients are getting the needed protection they deserve. The people working in this capacity also operate in a very unique way. Elected officials and staff have been entrusted with the stewardship of civic affairs and are all held to the highest ethical standards. In addition, they also need to operate within a planned budget while balancing the pressures arising from issues such as:

  • Public safety
  • Civic pride
  • Environmental concerns
  • Personnel management
  • Business development opportunities within the community
  • Adequate staffing, and
  • Constituents’ concerns

When considering the products we offer you should also realize that your clients could benefit from risk planning and management. The purpose of risk management is to assist in the identification of potential and/or existing liability and property exposures within a public entity’s operations.

Having a risk management representative will help to identify existing and/or potential liability and property exposures by collecting information pertaining to the operations of a public entity. Recommendations can then be made from the information gathered during the profile to assist in reducing identified areas of liability and property exposures.

Across the nation, communities both large and small face similar risks as they relate to those common concerns that every business entity faces:

  • Employee injuries
  • Theft
  • General and property liabilities
  • Security risks, and
  • Employee benefits programs

But no two municipalities are alike and each deserves its own separate review and special consideration of the types of insurance coverage it requires to meet specific needs and to manage any and all unforeseen risks.

Helping to mitigate your municipal clients amount of risk by identifying existing or potential liability and exposures goes a long way in securing their trust, and you can further your efforts by offering them a comprehensive list of recommendations on how to limit or eliminate them. But providing municipality insurance is what Aegis General Insurance Agency would like to do for you first and foremost. Speak to one of our representatives today!

Coverage for Mobile Homes Through Aegis General Insurance

There are close to 40,000 trailer parks in the US, ranging in size from 5 to over 1,000 home sites. While most parks aim to appeal to meeting the basic housing needs of its tenants, some communities tend to specialize towards a specific segment of the market.

Many mobile home parks are havens for retirement communities, with residents of a median age of 55 and older. There are also mobile home parks that act as seasonal communities, often located in mostly popular vacation destinations, or are often used as a location for summer homes for those who prefer this as an option.

Regardless, they both have one thing in common: They are part of an underserved market when it comes to insurance, and Aegis General insurance specializes in serving niche markets where those who need insurance and aren’t quite sure how to go about securing it, have a means of acquiring coverage. As a Program Administrator, Aegis General strives to meet the many challenges this segment of the market faces, with a targeted approach to risk that garners results.

Mobile homes often move from place to place

Mobile homes come in two major sizes, single wide and double wide. A single wide, because of its size, can be towed to their site as a single unit, as where a double wide must be towed to their site in two separate units, which are then joined together. Mobile homes are often sited in land lease communities known as trailer parks which allow home owners to rent space on which to place a home. In addition to providing space, the site often provides basic utilities such as water, sewer, electricity, or natural gas and other amenities such as pools, playgrounds, community rooms, and garbage removal.

These homes are often heavily scrutinized because they tend to be plagued by disasters, including kitchen fires, electrical fires, damage from high winds, and are also often targeted for theft and vandalism. Owners without coverage bear the burden of paying out-of-pocket when their home is stolen or damaged, and the costs could easily become exorbitant, which is why Aegis General would like for you to look at our programs which may be suitable for the people you service.