Operating a retirement residence or senior living complex offers unique challenges. You want to:
… all while keeping costs manageable. As you know, this is no easy task!
One such cost which you will want to control is your insurance premium - but you don't want to cut back on your protection, putting your business at risk. You need to make sure that you are getting the best value for your insurance purchasing dollar. The best way to do this is to:
What do we mean by "loss prevention"? Put simply, it means putting controls into place to prevent losses, or minimize their negative impact. It involves taking a look at your operation and identifying potential hazards or risks that could result in a loss (ex. elopement of residents, resident lifting and transfer, fire, resident or guest slip & fall, etc.).
Doing so will help you run a safer operation, have happier residents under your care, and minimize costs (both insurance and others).
By way of an example, the following would be the steps in establishing an effective Loss Prevention Program for Slip & Fall Incidents:
1. Identify initial hazards on your premises.
2. Establish a set of procedures to ensure you and your employees
3. Document your procedures with consistent record
4. Establish a training plan to ensure all employees are familiar with the procedures for preventing and responding to slip and fall issues.
Sara McConnellRead more »