Guest Author Post: Insurance woes facing care sector
24 Sep, 2020
The care sector has been gradually facing a hardening insurance market as fewer insurance companies are prepared to provide cover. In recent months some of the main remaining insurers have withdrawn leaving the situation even more difficult. On top of this the insurance industry in general is seeing a sharp rise in premiums and a reduction in the cover they are prepared to offer. This is bad news for the care sector, already under pressure from the impact of Coronavirus.
Insurance companies are now more fussy than ever so if you want insurance for your care home to remain affordable and effective you need to make yourself attractive to the underwriters. One of the best things care businesses can do is to demonstrate a high standard of professionalism, risk management and a culture of ongoing improvement. ISO certifications are an ideal way of doing this as they are understood and respected by insurance companies.
If you run a residential or domiciliary care business being able to prove and explain to insurers that you are low risk could do more than just save you money it could make you insurable when many businesses are struggling to find cover or forced to buy cover that is not fit for purpose.
If you require assistance with your insurance, you can contact Duncan Sutcliffe and his team at Sutcliffe & Co Insurance Brokers: 01905 21681 or by emailing enquiries@sutcliffeinsurance.co.uk.
If you’re considering ISO Certification to help reduce your insurance premiums, please call us on 0330 058 5551 or if you’d prefer to put in an enquiry and have a free consultation, click here.
Author Bio
Duncan Sutcliffe is the Director of Sutcliffe & Co Insurance Brokers. You can contact Duncan and his team on 01905 21681 or by emailing enquiries@sutcliffeinsurance.co.uk.
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