Residential care for children can present many challenges for organisations in a sector that’s continually changing in terms of regulation, responsibilities and liabilities. Running a children’s home is about much more than just running a business. It comes with duties to meet the physical and emotional needs of the children in your care, and there will be many risks to manage and mitigate.
Gallagher has delivered tailored insurance solutions for children’s homes for many years and we have a deep understanding of the market. This means we can secure the relevant cover and cover levels for your organisation at a cost that is acceptable to you in a sector where insurance premiums have typically been rising.
What is children’s home insurance?
Children’s home insurance is cover designed to protect owners and operators of children’s homes from the many—and often complex—risks they face in the day-to-day running of the home. While essentially running a business, you are also looking after the home’s residents and so you will need to have adequate protection in place for your specific liabilities.
What can children’s home insurance cover?
Standard cover will typically include the following.
- Buildings and contents: If you are the property owner, buildings insurance will offer you protection if the building is damaged due to named perils such as fire or flood, and will cover the cost of repair or reinstatement. Likewise, contents cover is there to replace contents that are lost or damaged.
- Employers’ liability: If an employee is physically or psychologically injured while working for you, this cover steps in to meet the costs of a compensation claim, including legal costs.
- Public liability: In the event that a resident, member of the public or other third party suffers an injury or damage to their property, and holds you liable, public liability insurance protects you financially.
- Abuse and molestation cover: One of the risks in this sector is that a staff member may find themselves the subject of an abuse claim. This insurance is designed to provide financial protection for the organisation against an actual or alleged incident of abuse.
- Professional indemnity: If a resident or their family decides to make a claim against your organisation because of perceived negligence, this cover is designed to offer protection. This could be due to poor service or advice, for example.
- Treatment risk: If a resident suffers an injury or adverse reaction due to a treatment you administer, they may seek to make a liability claim against you. This cover is designed to offer protection in these circumstances.
- Residents’ personal belongings: This insurance covers contents belonging to residents of the home and works in the same way as a standard home contents policy.