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On behalf of Darwin, K&B will administer submissions and underwriteeligible senior living risks, which include stand-alone independent living,assisted living, intermediate care, nursing homes, continuing care retirementcommunities (CCRCs), adult day care, and respite care facilities. Riskmanagement and claims-handling support for business underwritten by K&B willbe provided by Darwin's expert resources in these areas.
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"K&B is recognized as one of the largest providers of insurance servicesto the senior living segment of the health care industry," explains SteveSpina, Darwin's vice president for Medical Professional Liability business."Since our inception, Darwin has consistently demonstrated our commitment tothe health care industry -- a commitment that has allowed us to earn asubstantial position in the medical professional liability market. Ourdecision to enter into a strategic underwriting services partnership with K&Bsupports a long-term strategy to provide meaningful coverage and clientservices to the broad continuum of health care and medical facilities. We arevery excited about our underwriting partnership with K&B, as they haveexpertise and a practice dedicated to the senior living segment."
Darwin's new line of specialty liability products for senior livingfacilities includes professional, general, employee benefits, and sexualmisconduct liability coverages. Policies will be issued by K&B on DarwinSelect Insurance Company (Darwin Select) paper, Darwin's excess and surpluslines carrier which has earned a rating of "A- (Excellent)" by A.M. BestCompany.
Darwin has created these specialty liability products with activeinvolvement from K&B following extensive analysis of the senior livingsegment, and has included unique features such as professional liabilitycoverage which includes "residents' rights" claims and liability arising from"elder abuse" statutes. Prior acts coverage is available, and defense outsidethe limits of liability is a standard policy feature. Supplementary coverageswill also be offered, including defense expenses for disciplinary proceedings,medical payments coverage, and fire damage legal liability coverage. Otheroptional coverages, including non-owned automobile injury, punitive damages,and excess employers liability and auto liability, are available byendorsement.
Primary limits of liability up to $1 million per claim, with a $3 millionannual aggregate per facility and excess limits up to $10 million per claim,with a $10 million annual aggregate, are available.
"Darwin's approach and commitment to the health care industry is soclosely aligned with K&B's that it provides a solid foundation for a seamlessstrategic underwriting partnership and a superior overall product experiencefor our senior living clients," says Bryan Baird, president of K&B.
Agents and brokers interested in accessing coverage for their seniorliving clients should contact K&B at (888) 760-3194.
Important Information
Coverage descriptions in this press release are summaries only; allcoverages will be determined by the policy as issued. Policies are availableonly through licensed surplus lines brokers and in conjunction with Darwin'sexclusive underwriting partner, K&B. Additionally, this press release maycontain projections, comments, and other forward-looking statements as definedin the Private Securities Litigat
