Senior Housing Guidelines/File Documentation

Mandatory for all Senior Housing risksissued after 6/1/04.

Insured: / Quote/Policy #:
Agency: / Effective Date:

Our guidelines are not intended to promote the writing of senior housing but to define the conditions under which we will write them as an accommodation to a top agent.

Note: Senior housing is an “F” matrix grade and must be approved by:Robert Aleknas, Technical Consultant or Geoff Bohanan.

We define eligible senior housing to include habitational property with residents who are 55-yearsor older, fully ambulatory/independent living with no medical services being provided on premises.

Basic Guidelines:

Agent is CC, FT in good standing or new appointment that is delivering a good flow of target business.
Insured has been in business a minimum of 5 years.
The insured has strong financials, with no history of adverse judgments, liens (other than collateral), or bankruptcy (Experian score of 70 or greater)
Five-year hard copy loss runs (currently valued) obtained, with an all lines loss ratio of 25% or less versus our quoted premium.
Risk has notrend of trip & fall type losses.
Pricing at manual or debit (Use HWIC in NY).
Last years Package Premium: $ Our proposed Package Premium: $
NO BOPs: Risk written at or near manual CPP pricing.
Risk meets or exceeds all NFPA Standards including HW smoke detectors in rooms, common areas & basement.
High rise apartments up to 10 stories may be considered, protection classes 1-4 only.
Protection Class:
Number of stories:
Note: Frame & Joisted Masonry limited to 1-2 story structures unless fully sprinklered (Within units & common areas).
Insured has a documented evacuation plan.
Insured has a program of securing current certificates of insurance for general liability (minimum $500,000 limits) and workers’ compensation from all contractors.
Requires that all contractors sign a hold harmless and indemnification agreement in favor of the Insured.
Insured should have a formal program for snow removal in place with certificates of insurance from the contractors.

Use “Comments” space below to document any items not checked with reasons.

Comments:

Reminders:

  • Senior housing risks should be scheduled for a loss control visit to confirm quality and confirm basic compliance with NFPA Standards at time of inspection for insurance purposes (no warranty of compliance to insured).

Yes No
Underwriter / Date / Within authority
Yes No
Manager / Date / Within authority
Approved
Technical Consultant / Date

Ed 11/29/06

I/Underwriting/Guidelines/2004 Sr Housing Guidelines.doc