Demystifying Insurance

Demystifying Insurance Support Materials

We know how costly insurance can be to a care providers, it’s a purchase made every 1 to 3 years and this is not necessarily an area where all care providers will hold detailed knowledge and expertise.  This page is designed to support to care providers with insurance decisions and renewals.  There are a myriad of insurable areas for care providers to consider from statutory policies through to discretionary areas to help cover potential risks and exposure.  We hope the below helps support care providers with insurance decision making.  Care England will add useful resources and support information below, so be sure to bookmark ahead of your next renewal.  Care England also meets with the Department of Health and Social Care (DHSC) on a quarterly basis.  If you are faced with sector specific concerns you would like raising to the DHSC, or if you require further support or guidance related to insurance provision for the care sector, please email to rayres@careengland.org.uk who will contact you to discuss.

 

 

Demystifying Insurance

Having an insurance policy in place is one of the most important parts of running a business, but often, with so many different options to choose from, it’s hard to understand just how these all differ, as well as work out which covers you need and are the best for you.

Care England has worked with its preferred insurance provider Towergate to create an initial guide covering the different topics and products that you need to be aware of when it comes to insurance for your care business, making choosing the right policies for you, at the right time, easier.

Subsequent papers are available below drilling into the specific topics, but we hope this overview will help those less knowledgeable on the principles of insurance to become more aware of their options and risks which may require review and protection.

To read the Demystifying Insurance paper [CLICK HERE]

 

Cyber

Cyber Insurance is definitely not a substitute for cyber risk management as outlined in a recent article titled “Why cyber insurance isn’t a substitute for cyber risk management.”  Insurance will not identify and eliminate cyber risks. The only way of effectively protecting your organisation is to ensure that security protocols and systems are as strong as possible. Mitigo, offer Care England members a free no-obligation consultation (details at the end of the article).

Towergate Insurance provide several helpful guides to support care providers when considering and taking out cyber policies:

• Three high-level features of a good cyber defence [CLICK HERE]
• How to increase cyber Security in your care home to reduce the risk of PII data breaches [CLICK HERE]
• The importance of creating a human firewall against cyber attacks [CLICK HERE]

 

 

Grey Fleet and Use of Personal Vehicles

Across the care sector, especially within homecare provision, care provider employees use their own vehicles and can be reimbursed on a per mile basis.  It is therefore necessary for care providers to understand the legal and insurble position in this regard.  Towergate Insurance have provided the following support for care providers to consider:

• Grey fleet vehicles and employer responsibilities [CLICK HERE]
• Using personal vehicles for work and your responsibility as an employer [CLICK HERE]

 

 

Artificial Intelligence (AI)

The care sector has not remained untouched by the AI revolution but it is far from being a perfect solution.  Towergate Insurance outline some of the advantages and concerns with AI in their paper titled “The pros and pitfalls of AI use in care” and suggest that any care provider engaging in the use of AI, should ensure this is discussed with their insurance provider.

For further information and support, please contact Towergate Insurance, please contact Carolyn Baker-Mellor on 07940 447532 or email carolyn.baker-mellor@towergate.co.uk or visit www.towergateinsurance.co.uk

Care England Members can benefit from a 10% discount on the cost of a policy, see here for details