STATE OF CALIFORNIA
STATE OF CALIFORNIA Harry W. Low, Insurance Commissioner
[pic]
DEPARTMENT OF INSURANCE
Statistical Analysis Bureau
300 South Spring Street, 14th Floor
Los angeles, CA 90013
January 23, 2002
California Long-Term Care Facilities Liability Coverage for Nursing Homes and Assisted Living Facilities
In May 2001, the California Department of Insurance conducted a data call to determine the availability status of the Long-Term Care “Liability” insurance for nursing homes and assisted living facilities in California. A circular was mailed to 448 companies licensed to write commercial multi-peril and other liability insurance coverage.
33 companies responded with any experience for the 5-year period. Of that, only 21 licensed insurers indicated they are currently writing in 2001. Of the 21 insurer writing this coverage, 4 insurers are offering renewal policies only. This leaves only 18 admitted insurers, which represents 13 groups/companies, offering new business to the current market.
Twelve other companies that responded with some type of experience in the 5-year period collected, stopped writing because of profitability, reinsurance, huge losses, and lack of underwriting expertise.
|(1) |(2) |(3) |(4) |(5) |(6) |(7) |(8) |(9) |(10) |(11) |
|Year |Number of |Written Premium |Earned Premium |Policies |Number of |Average |Average |Claims |Incurred Losses |Loss Ratio |
| |groups/insurers | | |Earned |Facilities |Premium per |Premium per |Incurred | |(11) / (4) |
| |(In parentheses are the| | | |Covered * |Policy |Facility | | | |
| |number of insurers) |($) |($) | | |(4)/(5) |(4)/(6) | | | |
| | | | | | |($) |($) | |($) | |
|1997 |14 (26) | 9,833,448 | 8,220,369 | 1,746 | 2,083 | 4,707 | 3,946 |310 | 17,780,746 |216% |
|1998 |14 (26) | 9,334,387 | 10,255,534 | 1,880 | 1,947 | 5,455 | 5,267 |409 | 21,658,800 |211% |
|1999 |18 (28) | 11,742,554 | 11,352,628 | 1,535 | 1,503 | 7,396 | 7,553 |409 | 19,959,021 |176% |
|2000 |17 (25) | 7,669,954 | 8,266,068 | 801| 844| 10,320 | 9,794 |261 | 8,843,103 |107% |
|2001** |13 (21) | NA | NA | NA | NA | NA | NA | NA | NA |NA |
* Unable to provide complete data for the number of facilities covered. Some insurers were unable to provide a complete count of number of facilities.
** 2001 premium and loss information was not available at the time the study was conducted.
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