American Safety Insurance Services has launched MedSolutions, a new suite of insurance products that provide customized insurance plans for long-term care facilities and healthcare groups.
MedSolutions offers general and professional liability coverage for entities in the long-term care business, such as nursing homes, assisted and independent living facilities, as well as medical directors, allied health entities and physician groups.
The MedSolutions product can be structured in a variety of ways depending on the particular account’s tolerance for risk, policy limit requirements and pricing sensitivity. Possible solutions cover a spectrum of needs, from basic low-limit compliance coverage to meet state legal operating requirements, to sophisticated self-insurance programs or rent-a-captive structures that allow the insured to retain the underwriting profit on their account.
The typical MedSolutions client, with low to moderate risk tolerance can take advantage of the lower limits policies or traditional coverage options. Limit options begin at $100,000 or $300,000, with a maximum of $1 million or $3 million for traditional insurance policies. Both lower limits and traditional options offer flexible retentions or deductibles, available first-dollar coverage and payment plans.