Business Services Industry
HUD eliminates illogical LTC rule.(Opinions)(United States. Department of Housing and Urban Development)(long-term care)
Business Insurance, February, 2005
WHY A FEDERAL agency last year decided to discriminate against long-term care facilities that use risk retention groups and other alternative risk financing vehicles to fund professional liability exposures escaped us. But whatever reason the Department of Housing and Urban Development had when it proposed rules that effectively would have denied federal guarantees of mortgages or other real estate loans for long-term care facilities that fund liability coverages through RRGs, we are glad to see HUD has reversed course.
As we recently reported, HUD has rescinded a part of a proposed rule that would have required long-term care facilities to purchase professional liability coverage from insurers licensed in the states where the facilities are located in order...
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