Supporting elderly or vulnerable people to live independent lives can be an immense privilege but also comes with great responsibility.
As an organisation, you will be faced with numerous risks to manage and mitigate as you run your business, take care of your staff and help to protect those in your community who rely on your services. It is therefore important to choose an insurance broker with experience in this sector.
Gallagher has provided insurance for supported living facilities for many years and we understand the environment in which you work and the unique challenges you face. We can arrange specialist cover to help protect your organisation and the activities you undertake to support your clients.
What is supported living insurance?
Supported living insurance or assisted living insurance as it is sometimes known, is designed to protect organisations that support vulnerable people to live independently in their own homes or supported living facilities. These could be elderly people, young adults, or people with physical disabilities and/or mental health needs.
Having adequate assisted living business insurance in place is important because if your organisation is held liable for an accident or injury, or damage to a person’s property, for example, it could lead to significant financial loss if you are not sufficiently protected.
What can supported living insurance cover?
Standard cover will typically include the following.
- Public liability: Cover if a service user, member of the public or other third party is injured, or their property is damaged, and your business is held liable.
- Employers’ liability: Protects your organisation financially in the event of a compensation claim by an employee or volunteer if they suffer an injury while they are working for you (including psychological injury).
- Property and contents damage: If you own your buildings, this cover will step in to cover the cost of repair due to incidents such as fire, flood, vandalism or storm damage.
- Professional indemnity: Cover to protect you if a service user or family member makes a claim against your business for negligent advice or service.
- Abuse cover: Unfortunately, allegations of abuse can happen in this industry. This specialist supported living liability insurance cover is designed to provide protection against an incident or alleged incident of abuse involving a service user.
- Treatment risk: Provides protection for legal defence and compensation in the event of a claim by a service user for injury (such as adverse reactions) caused by treatments they have received from your company.
- Loss of registration: Covers you for losses associated with having your registration certificate withdrawn.