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May 27, 2015

NAS Announces New Program To Help CA Residential Care Facilities Comply With July 1 Deadline

NAS Insurance today announced the availability of a professional and general liability insurance program for owners of Residential Care Facilities for the Elderly (RCFEs).  The coverage is designed to help California RCFE owners comply with the July 1, 2015 deadline to maintain liability insurance in an amount of at least $1,000,000 per occurrence and $3,000,000 in the annual aggregate to cover injury to residents or guests.

“Since California passed Assembly Bill 1523 last year, we’ve been seeing a steady increase in demand for this program,” remarks 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.” The insurance is secured by Lloyd’s of London, an A.M. Best rated “A (Excellent)” security.

NAS Insurance also introduced to provide information about the California insurance requirements and to help connect facility owners with insurance brokers that specialize in this area. 

“Our liability insurance program has been widely recognized among assisted living, personal care and independent living facilities around the country,” commented Matthew Thoburn, NAS’ Product Manager. “With over 8,000 licensed facilities in California alone, we’ve built to help facility owners quickly find an agent and obtain coverage by the July 1 deadline.”

NAS Insurance is a full-service specialty insurance underwriting manager that provides innovative product development, underwriting, marketing, risk management, and claims handling services for a broad range of specialty insurance products.