Do You Need a Resident Fund Bond?
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A necessary bond for all senior living facilities is a patient trust fund or resident fund bond. This bond is deposited to the senior living facility and covers your residents’ personal funds. The funds are then used for a variety of reasons for the residents, be it a haircut or Medicare.
Assurance has teamed up with North American Specialty Insurance Company to give our busy senior living clients the ease of getting bonds as quickly and efficiently as possible. When audit time rolls around, we have the ability to access state information and accommodate the amended requirements.
By writing these bonds, nearly 280 of them, we’ve ensured that our clients remain in compliance with state requirements. Still have more questions about bonds? Contact the Assurance Surety ‘A’ Team for more information!
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