Posted on 07 Jul 09
This week we are speaking with Bryan Baird, founder and CEO of ProgramBusiness storefront K&B Underwriters. Virginia-based K&B focuses on providing insurance programs and risk management services for Senior Living Facilities, bringing a commitment to the industry and a level of focused expertise that is unrivaled.
Recently, K&B expanded access to its exclusive Senior Living Facilities Program, designed in conjunction with its market partner, Darwin Professional Underwriters, to all agents and brokers nationally. Darwin is a member company of “A” rated insurer and reinsurer Allied World Assurance Company. Together, K&B and Darwin have redefined insurance innovation in this field, offering a program that is broader and more flexible to address and meet the needs of this unique market.
The exclusive program is available for the following facilities: Skilled Nursing Homes, Intermediate Care, Assisted Living, Independent Living, Continuing Care Retirement Communities (CCRCs), Adult Day Care, Respite Care, and Home Health Care.
“We initially launched the Senior Living Facilities Program with Darwin in late 2007, early 2008, to a group of select agent specialists. Due to strong response to the program and requests from other agents, we expanded access to the program this year to all agents and brokers, providing retailers throughout the country with an opportunity to carve out a piece of this growing and critical business with the backing and resources of our expertise and knowledge," says Bryan. “For those retail agents with significant focus or specialized books of this business, we also offer a Preferred Agent program that offers additional and specialized benefits.”
When asked about what makes this program unique, Bryan eagerly says “just about everything.” What separates this program from others is the broadened General and Professional Liability coverages from Darwin – and very robust risk management and claims handling support.
Bryan explains that there are key coverage differentiations that enhance the program in this highly regulated and specialized niche. “Most policies are silent on sexual & physical abuse or cover as a sublimit. Our Professional Liability policy specifically covers third-party sexual abuse from non-employees and all physical abuse from employees and non-employees. However, we offer an additional $1 Mil/$1 Mil limit to address the sexual misconduct of employees only. It also provides additional defense costs up to $50,000 for disciplinary procedures. And the program has been designed to provide per-location limits, up to a policy aggregate of $10 million.”
In addition to the General Liability, Professional Liability, and Umbrella coverage offered through Darwin, K&B also offers Property, Auto, and Workers Comp underwritten by The Hartford. “The Property coverage is unique in that it will pay for evacuation expenses if there is a threat of a property loss but no resulting loss occurs,” says Bryan. “This helps to boost preparedness procedures… the staff won’t hesitate to evacuate residents from the facility or wait until property damage has occurred to do so. It also helps to stem criticism from the residents’ families and to curb liability losses.”
Proactive risk management is an integral part of the program provided by K&B Underwriters, with an array of services available to provide custom solutions. Darwin works with its policyholders, with a proactive, positive attitude that conveys ‘we’re here to help implement processes that will prevent losses and better manage risks inherent in the industry’. “In the past, most facilities felt as though they were undergoing another state inspection when a risk management survey takes place,” says Bryan. “They viewed it as mandatory and were not as eager to share or to be as open. Darwin and K&B approaches these facilities with a handshake, rather than a hammer, making it clear that we are there to work with them, to serve as a resource for them…that our risk management services are confidential and focused on mitigating losses. We are true risk advisors.”
Knowledge of the industry is at the forefront of K&B’s success, having concentrated on this niche since its founding in 200. K&B’s management and staff have longevity with the industry – over a decade. “This is all we do,” says Bryan. “This is our specialty, and we are proud to serve as a resource for the retail distribution chain in this industry and help them capitalize on a continued growing market.”
For more information about K&B’s exclusive Senior Living Facilities Program, please see the attached flier; you can also contact Tim Haliksy, Production Underwriter, at firstname.lastname@example.org.