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Making the right choice for your school, getting the right cover for your school is about more than just price
The provision of risk and insurance is a critical decision, with some schools basing their decisions purely on cost, to the detriment of other factors. Whilst price is a key determinant, schools need to consider other critical features of risk transfer including scope of cover and support. You often get what you pay for.
Companies such as Zurich Municipal provide customers with bespoke risk and insurance arrangements for a school, with clear policies on support in the event of an incident and how they operate a claim. Zurich Municipal truly engage with customers to understand the risks faced and ensure the right bespoke support is in place. Schools can have peace of mind in that insurance providers have to abide by contracts and are regulated by the Financial Conduct Authority.
The insurance industry has extensive experience of dealing with risk and liabilities for schools. It has dedicated resources in place with significant experience to deal with delicate situations such as bullying, abuse, suicide and failure to educate. With experience in crisis management, governed insurance providers have dealt with incidents ranging from major fires to attacks of students and teachers; giving first hand incident support, regardless of whether or not a claim has been made.
Each and every school is unique and needs to have confidence that they will get the support they need to minimise disruption following an incident. Insurance companies have dedicated teams, with named points of contact, which exist purely to help a school deal with a crisis or major incident. Choosing the right provider based on the support they provide will be a benefit when you need them the most.
Inadequate cover and vague claims delivery could leave your school vulnerable in a number of areas. With the need to constantly build an environment of enrichment, schools have a whole range of offsite activities and subsidiary operations which need to be covered by your insurance provision. Insurers can also help establishments to become good risk managers with potential incentives present in the pricing structure for those that manage their reputational, operational and financial risks.
Choosing the right protection can be a minefield. Although many factors come into play, the scope of cover and how this is applied in the policy should always be a top priority.
Five things schools should consider when choosing risk and insurance:
Understanding the insurance process can appear complicated and baffling but the Academies Hub together with our founding sponsor Zurich Municipal are working together to support you. Through articles, videos, and guidance we will be providing you with everything you need when considering insurance and risk management for your academy. We hope that this will help you make the right decision and most crucially understand what happens when you have to make a claim and how that process works.
Are you prepared for the worlds biggest threat-cyber / Zurich Municipal
Cyber bullying is a serious risk to children and their teachers / Zurich Municipal
Five top tips for detecting fraudulent insurance claims in schools / Zurich Municipal
How to protect your school during half terms and holidays / Zurich Municipal
How to prevent detect and investigate fraudulent claims / Zurich Municipal
Insurance and Risk Management: supporting your academy every step of the way / Zurich Municipal
Insurance Premiums explained / Zurich Municipal
Top three insurance risks facing academy schools / Zurich Municipal
Understanding Strategic Risk Management in Academies and Further Education Colleges / CIPFA
Academies Risk Protection: Department for Education's risk protection arrangement (RPA) for academy trusts / DfE and EFA
Rehabilitation brochure / Zurich Municipal
Risk protection arrangement for academy trusts: membership rules / DfE and EFA
Rehabilitation video / Zurich Municipal
Complete this survey and win £500 for your chosen charity / Zurich Municipal