As we learn more about the COVID-19 virus, societal responses and vaccine development, our collective knowledge continues to develop. Throughout this time, Guy Carpenter is continually connecting with our clients and business associates to gather the key questions health insurers are asking along with the range of potential outcomes.
The commercial property and casualty insurance market is going through a significant shift — especially for long-term care and senior living providers. Among COVID-19’s impacts are rapidly rising premiums, coverage restrictions and reductions in capacity.
During Marsh’s recent webcast, “The Senior Care Market – Trials and Tribulations in the Face of COVID-19,” featured speaker, Mark Parkinson, President and CEO of the American Health Care Association, addressed COVID-19’s impact on the long-term care and senior living industry, including recovery for senior care providers, their staff and residents and the need for liability protection. Marsh is an affiliate of Guy Carpenter.
Panelists from Marsh’s risk and industry practices detailed the state of the insurance marketplace — including rate changes and coverage restrictions — and offered suggestions to ensure the best possible outcome for the next renewal period. Conversation focused on:
- Professional and General Liability
- Workers’ Compensation
- Directors & Officers Liability
- Cyber Liability
- Environmental Liability
- Mark Parkinson, President and CEO, American Health Care Association
- Joanne Wankmiller, U.S. Senior Care Practice Leader, Marsh
- Ian Matyjewicz, Placement Specialist, Marsh
- Lauren Pratscher, Central Zone Casualty Placement Leader, Marsh
- Ruth Kochenderfer, FINPRO HealthCare Co-leader, Marsh
- Leanne Gallagher, Cyber HealthCare Placement Leader, Marsh
- Esther Kim, West Zone Real Estate Practice Leader, Marsh
- Chris Smy, Global Environmental Practice Leader, Marsh