Social welfare insurance – What is required in respect of insurance when starting a new business

With an ageing population and with advances in medicine the social welfare sector continues to grow. The Care Quality Commission has now over 50,000 registered providers.

The sector is very diverse, ranging from children’s homes to rehab centres, and including domiciliary care and day centres for children and adults with learning difficulties.

Although the basic insurance for buildings and contents is likely to be the same for most sectors, each risk needs to be carefully assessed and cover tailored to meet the requirements of the organisation.

For example a rehabilitation centre that administers medication is likely to have a requirement for medical malpractice cover, whilst an organisation dealing with the young and vulnerable may be concerned if their policy does not provide cover for abuse.

For start-up businesses in the social welfare sector, insurers are likely to require:

  • A business plan
  • A statement of purpose
  • CV’s of the directors
  • A completed proposal form

Macbeth work with a number of specialist insurers to ensure that the correct solution is offered for each and every client. We arrange protection for a number of ‘non-standard’ risks and can help when other brokers are unable to do so.

For additional information contact Tony Gibbs on 0118 9165 485 or complete one of our enquiry forms.

 

 

Author: Tony Gibbs | January 29th, 2013

Contact the author

Tony Gibbs
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk