Professional Liability Benchmark Report for Senior Living and LTC Providers
The information presented in this study is critical information for industry stakeholders interested in understanding important trends, loss drivers and other factors impacting resident care and quality. Included in this review will be an estimation of countrywide and state-specific trends separately for claim costs, severity, and frequency; an estimation of countrywide and state-specific claim costs; an examination of the relationship between indemnity costs compared to expense costs; and an analysis of the cause of loss descriptions. Especially relevant for 2022 will be the effect that the pandemic has had on losses.
The information Marsh and Oliver Wyman are collecting includes:
- Individual claim listing (excluding Protected Health Information) in Excel-readable format including as much detail as possible, valued as 12/31/2021. Please include claim information for the last 10 calendar years, if available.
- Occupied unit equivalent exposure information for the past 10 calendar years, if available.
There is no cost to participate, and all participants will receive a copy of the report and an invitation to the presentation of the results. They only ask for your assistance in obtaining the necessary data. If you're interested in participating, please contact Oliver Wyman regarding the data collection process or with any additional questions at LTCBenchmark@oliverw?yman.com.
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