22 Va. Admin. Code § 40-73-45

Current through Register Vol. 41, No. 6, November 4, 2024

Section 22VAC40-73-45 - [Effective 1/25/2026] Minimum amount for liability insurance disclosure

A. The minimum amount of liability insurance coverage to be maintained by an assisted living facility for purposes of disclosure in the statement required by 22VAC40-73-50 and the resident agreement required by 22VAC40-73-390 is as follows:

1. $500,000 per occurrence to compensate residents or other individuals for injuries and losses from the negligent acts of the facility; and

2. $500,000 aggregate to compensate residents or other individuals for injuries and losses from the negligent acts of the facility.

B. No facility shall state that liability insurance is in place unless the insurance provides the minimum amount of coverage established in subsection A of this section.

22 Va. Admin. Code § 40-73-45

Derived from Virginia Register Volume 34, Issue 6, eff. February 1, 2018; Amended, Virginia Register Volume 40, Issue 26, eff. 7/26/2024, exp. 1/25/2026 (Emergency).

Statutory Authority

§§ 63.2-217, 63.2-1732, 63.2-1802, 63.2-1805, and 63.2-1808 of the Code of Virginia.