The
2024 General and Professional Liability Benchmark Report for senior living and long term care (LTC) providers has arrived! Developed by Marsh’s Senior Living & LTC Industry Practice and Oliver Wyman’s Actuarial Practice, this comprehensive report delves into the latest trends and factors shaping resident care and quality in senior living and long term care.
This year’s report, created in collaboration with industry leaders like the American Health Care Association and LeadingAge, provides an in-depth analysis of loss drivers, claim statistics, and other critical data points that impact the industry. By exploring these findings, you’ll gain a clearer picture of the challenges and opportunities facing LTC providers today.
Key Highlights of the Report:
- Claims Overview: The report analyzes 10,300 closed claims, totaling $1.87 billion in indemnity and expenses, covering 243,000 senior living and LTC units.
- Top Loss Drivers: Falls remain the leading cause of claims for both senior living and LTC settings. Wounds are a significant concern in LTC, underscoring the need for proactive risk management in higher-acuity care environments.
- Trends in Severity and Frequency: The report projects 2024 outcomes based on ten years of claims data, covering claim frequency (claims per 100 units), severity (average claim size), and loss rate (cost per unit).
Whether you’re a provider, industry stakeholder, or simply interested in the future of senior care, the 2024 LTC Benchmark Report offers invaluable insights that can help you stay ahead in this evolving landscape.
Download your copy of the 2024 LTC Benchmark Report now and start leveraging the insights that can help shape the future of long term care.
Contact Oliver Wyman at
LTCBenchmark@oliverwyman.com for any questions.