Assurance Agency and Michael Maglaras & Company have launched the ‘AssureCap Advantage’ programme, designed to meet the insurance and risk management challenges of the senior care industry.
The programme has been organised through the creation of AssureCap Indemnity, a protected cell captive domiciled in Vermont.
The aim of ‘AssureCap Advantage’ is to provide a unique and thoughtful approach to insuring the skilled nursing, assisted living, rehabilitation, and independent living business.
Michael Maglaras said the programme will turn that segment of the healthcare industry around in terms of performance and outcomes.
Maglaras added: “AssureCap Advantage is very much a curated programme.”
“We’ve carefully assembled a collaborative team that includes Pinnacle Actuarial Resources, Paul Frank + Collins, AIG Captive Management Services, and Western Litigation, to make certain that senior care facility owners and their staffs can understand their exposures, manage their risks, and have access to the tools they need to improve quality and enhance the care they are pledged to provide.”
Marty Butler, senior vice president and senior living and not-for-profit practice leader at Assurance Agency, commented: “The AssureCap Advantage programme has been specifically designed to meet the challenges of insuring the exposures of the senior living business.”
President and COO of Assurance Agency Dan Klaras said the combination of his company’s approach to managing healthcare outcomes, a captive retained-risk platform and regulatory coverage from Lloyd’s of London means the new programme “is the model for the future of senior living underwriting, claims management, and risk management”.
