ISO has launched a new home healthcare program that provides coverage and ratings for insurers covering the home healthcare market. ISO is a Verisk business.
The aging population is one factor in the significant expansion of home healthcare in the United States. The U.S. Census Bureau projects that the over-65 population will double to nearly 84 million within 30 years. Other growing segments, such as pediatric and disabled care, are also driving demand. In fact, home healthcare and personal care aide employment is estimated to increase 40 percent from 2016 to 2026, according to the U.S. Bureau of Labor Statistics.
The ISO program features professional and general liability coverages and includes optional endorsements for several critical exposures, such as allegations of abuse or molestation, employment-related practices liability, home healthcare equipment, and theft of patient or client property. It also offers 31 separate classes for the most common home healthcare professions, from home health aides to registered nurses.
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ISO provides statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services for the commercial and personal lines of insurance. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace.
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