The Aged & Community Care sector play a vital role in our society. The broad range of business activities and support services provided can present a divere range of risks and complexity.
Our team has signifcant experience in this sector and can work with you to understand your business risks in today's changing world. We design insurance solutions based on a detailed understanding of your risk profile to ensure you are properly protected.
Protecting Your Aged & Community Care Organisation
We provide risk and insurance advice to address a range of business activities associated with the Aged & Community Care sector. These include:
- Residential Aged Care Facilities
- Serviced Apartments and Assisted Living
- At Home Nursing Care
- At Home Respite Care
- Transport and Social Support
What are the risks specific to the Aged & Community Care Sector?
- Fire and other perils can vary depending on the extent of residential services offered. The more extensive kitchen and restuarant facilities offered at a particular location will enhance the exposure.
- The Business Interruption risk for this sector is quite high and appropriate indemnity periods need to be properly assessed. A large scale residential home will take sometime to find alternative premises and receive the appropriate permits rebuild. This can lead to a blow out in expenses related to temporary relocation of residents or permanent loss of revenue or bonds.
- Public Liability is always a key risk for this industry sector. The majority of claims will relate to slips and falls however the frailty of many of the residents and visitors can lead to siginicant personal injuries. This risk increases when the facility has swimming, gymnasium and ither associated activities. The major risk faced by this sector is large scale loss of life due to fire therefore this exposure must risk managed accordingly.
- Product Liability is an exposure where food service is provided or medical supplies such as prescription drugs.
- Professional Liability risk is considered to be high due to various services provided including medication management and patient care.
- Cyber Risk is now an ever present risk of all industry sectors. Due to the senstitive nature of personal health information that may be store this are of risk needs to be managed very carefully.
What types of insurance are relevent to the Aged & Community Care Sector?
- Property / Industrial Special Risks
- Broadform Public and Products Liability
- Medical Malpractice / Professional Indemnity
- Management Liability
- Directors’ and Officers’ Liability (including Statutory Liability and Tax Audit)
- Employment Practices Liability
- Machinery and Electronic Breakdown
- Personal Accident for Voluntary Workers
Contact Us Today
If you would like to find out more about the benefits of working with NWC Insurance then give us a call on 1300 400 700 or email email@example.com.