CAMBRIDGE, ON May 31, 2012 – Frank Cowan Company, a leader in Canadian municipal, healthcare, education and community service insurance solutions, is pleased to reveal a new insurance program called Elder Care.
The Elder Care program is designed specifically for organizations and staff providing care and services to mature individuals located in nursing homes, retirement homes and long-term care facilities, for example.
According to a recent Statistics Canada press release previewing 2011 Census information, “The number of seniors 65 and over has been catching up with the number of children 14 and less in the last 40 years. As a share of the Canadian population, seniors represented 13.7% according to data from the 2006 Census. Population projections indicate that this share could increase to 22.8% by 2031, when the last cohort of baby boomers, born in 1965, will reach age 65. As a result, population aging will present many challenges for Canada in the coming decades.”
“We recognize the need and demand for a specialized insurance program for this growing demographic. Frank Cowan Company set out to offer a robust product that offers coverage combinations not currently found in the market. We address the intrinsic needs of elder care facilities and the professionals who work in this industry”, states Michael Lough, Vice President, Programs, Frank Cowan Company.
The Frank Cowan Company Elder Care program distinguishes itself from others in the market by offering:
- No General Liability Annual Aggregate
- Abuse Coverage
- Medical Malpractice Coverage
- Workplace Disruption (Pandemic Insurance) Coverage
- Computer Violation (Data Breach Insurance)
- Legal Expense including the Criminal Code
- Multi-Line Package Policy
“Frank Cowan Company is a specialized insurance provider. The addition of the Elder Care program to our product line up demonstrates our commitment to insurance solutions for niche segments. Our dedicated team of professionals are experts in these lines of business. Their experience and knowledge is what sets us apart, in addition to our superior risk and claims value-added services”, notes Larry Ryan, President, Frank Cowan Company.
Organizations choosing the Frank Cowan Company Elder Care program also benefit from their superior risk management expertise. This service allows clients to minimize their risk exposures, prevent incidents and reduce costs. The client receives better care and the organization knows they are doing all they can to mitigate risk.
Frank Cowan Company distributes the Elder Care program and all of their products through insurance brokers across Canada. Because Frank Cowan Company is an MGA, broker contracts are not always required to write business with the company.
About Frank Cowan Company
Frank Cowan Company is a Canadian leader in providing specialized insurance programs, including risk management and claims services for municipalities and public service, healthcare, education, community, children’s and social service organizations across Canada. Proven industry knowledge, gained through over 85 years of partnering with insurance companies and independent brokers, gives Frank Cowan Company the ability to effectively manage the necessary risk, advisory and claims services for both standard and complex issues. Frank Cowan Company’s head office is located in Princeton, Ontario with a branch office in Cambridge, Ontario. Clients and broker partners receive support out of both locations.