Five Star Healthcare, a division of Crump Insurance Services, Inc., is launching a new insurance program designed for Senior Living Facilities.
Offered through A.M. Best A XV rated carrier, the program is targeted to senior living operations and includes both general and professional liability. This is an expansion into the for-profit assisted living/independent living category for the carrier and Five Star Healthcare is its national program administrator for the dynamic segment.
“The healthcare industry is one of the fastest growing segments of the economy. With the aging U.S. population, the demand for senior living facilities is rapidly increasing and so is the need for specialized insurance solutions supporting the industry,” said Lee Lloyd, Executive Vice President of Program Development for Crump. “The expertise of our healthcare underwriting team combined with our excellent market relationships places us in the ideal position to meet this need and expand offerings into new classes for both our retail and carrier partners. The senior living facility is the first major offering by our healthcare programs unit and we have several others under development. This is only the beginning of great things to come from Five Star Healthcare.”
The product is eligible for assisted living facilities, independent living facilities, and skilled nursing exposures on a limited basis.