Are Aged Care Homes considered eligible risks?
Aged Care Homes, where the residents have ownership or a lease of their apartments and have food and basic medical services provided, would not be considered eligible policies under the TIA even though the insurance policy might be on a single ISR format. This is due to the permanent aspect of residency for those living at the facility. However, this would not be applicable to, for example, a hospital or hospice where the patients have temporary accommodation and the facility is intended to be a hospital business. It is recommended that insurers seek their own legal advice if they are unsure of the eligibility of a policy.
