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would be independent living forever, then you could build a less expensive building,” since IL code called for a lower grade of materials. “But then you have really limited your future use of that building, as people age in place and become assisted living residents.” With careful materials choices, sprinkler placements, and other safety-related decisions, safety-minded new construction “can leave you the flex- ibility to respond to the market,” he says.


Lower Premiums


Life safety initiatives can save you on your insurance bill, too. It isn’t clear how high that savings can run; there are just too many variables at play. But operators say the savings are surely there. “Our liability insurance absolutely looks


at that,” says Ray Henderson, CFO of Stellar Senior Living. “Tey look at actual


occurrences and we absolutely expect that to be a factor. For things like liability and workers comp, they will come out twice a


year to look at the physical plant, the poli- cies, and procedures. Clearly, in their minds, there is a tight correlation between life safety and the actuarial result.” Bridgewater has observed the same phenomenon. “Clearly there is a direct relationship in what communities would experience through their insurance, whether that is through workers comp or whether it is through general liability,” she says. On the flip side, “if you have a location that time and time again is


WWW. ARGENTUM.ORG | NOVEMBER/DECEMBER 2015 | SENIOR LIVING EXECUTIVE 29


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