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Posted on: May 20, 2025 by Huntersure
Memory care units are quickly becoming a cornerstone of assisted and independent living communities nationwide. Yet, surprisingly, only about 18% of these communities featured dedicated memory care units as of April 2023, highlighting a gap amid the growing need. For insurance agents, this rapid growth means residential care home insurance must adapt swiftly. To protect clients, agents now need to clearly address the specialized risks that memory care introduces.
Caring for memory-impaired residents demands skilled staff, specialized training, and meticulous safety procedures. These factors increase professional and general liability risks, from medication errors to supervision lapses.
Insurance agents must tailor residential care home insurance policies to cover these increased liabilities comprehensively.
Residents experiencing cognitive decline may be susceptible to abuse, neglect, and elopement. These elevated vulnerabilities heighten the potential for claims.
Robust abuse coverage is therefore critical. Huntersure offers targeted coverage with flexible sub-limits, potentially included without additional premiums, subject to underwriting approval and state regulations.
The rise of electronic health records and real-time monitoring technology in memory care units offers great advantages, but not without risks. Digital systems storing sensitive resident information create significant cybersecurity and HIPAA compliance concerns.
Insurance agents must ensure residential care home insurance policies include specialized cyber and HIPAA liability endorsements. Huntersure specifically addresses these threats, providing targeted coverage to mitigate data breach impacts.
Many residential care homes are merging various care levels, including memory care, within a single facility. This blended care model requires equally adaptive insurance solutions.
Huntersure crafts flexible residential care home insurance coverage, typically offering up to $3M per occurrence and $6.45M aggregate limits, tailored to evolving care models.
Memory care fundamentally changes the risk profile for residential facilities, making traditional policies insufficient. Agents must pursue innovative coverage solutions designed specifically for these emerging challenges.
Huntersure’s deep expertise and responsive underwriting enable agents to deliver specialized residential care home insurance that effectively meets the unique demands of memory care.
Contact us today to discover how Huntersure’s specialized residential care home insurance can support your clients’ expansion into memory care.
Huntersure LLC is a full-service Managing General Agency that has provided insurance program administration for professional liability products to our partners across the United States since 2007. We specialize in providing insurance solutions for businesses of all sizes. Our program features can cover small firms (grossing $2.5 million annually) to large corporations (grossing $25 million annually or more). We make doing business with us easy with our breadth and depth of knowledge of E&O insurance, our proprietary underwriting system that allows for responsive quoting, binding, and policy issuance and tailored products to meet the needs of your insureds. Give us a call at (855) 585-6255 to learn more.
Posted in: Residential Care Facility