New 'Care Home' insurance policy - review

Adrian Carter, Care Homes Director at Towergate Patrick, has confirmed that their new care home policy was a significant advance over Towergate Patrick's existing Care Concept 2000+ policy and incorporated a number of previously unavailable covers, not just another new contract.

 

Adrian went on to explain his company’s philosophy with regard to care home insurance in the UK.

 

He said Towergate Patrick concentrate very closely on three vital areas in our business:

 

1. Premiums – we have to be competitive to attract and retain our customers so, together with our scheme insurers, we do our utmost to provide competitive premiums but these must also be sustainable. We will not write business at a loss because it is not in our interest or that of our customers to do so.

 

2. Policy Cover – our business was founded on the basis of always providing excellent policy cover and this is clearly evident in our new contract. We don't take short cuts to create a competitive advantage over other providers. Anyone who recklessly cuts cover to reduce costs risks endangering their client’s businesses.

 

3. Customer Service – the service we provide in support of our customers is vital to the success of our business. When you contact our office, you will be speaking to experienced and knowledgeable staff.   Whether it be a quotation for new business, mid-term amendments, claims assistance or renewal questions, you will be assisted by our team - many of whom have spent a number of years looking after the needs of care home owners.

           

Our new policy continues to provide the home owner with a comprehensive package of cover including vital areas such as abuse and malpractice.

 

Common restrictions that are often found in insurance policies can include limiting the professional risk to providing only for the maladministration of drugs and medicines and/or the dispensing of them solely by professionally qualified staff.

 

The cover for abuse can sometimes exclude physical and sexual abuse and molestation, especially for mentally ill and learning difficulties homes. Our customers will not usually be subject to exclusions such as these.

 

 

 

 

We have included costs incurred by you the policyholder, directors, partners and resident managers in protecting and rectifying the individual's position in the event of “Identity Theft”.

 

Identity theft is the UK’s fastest growing white collar crime increasing by over 30% between 2004 and

2005 and that is only in respect of reported crimes of this type.   Estimates vary as to the exact scale of

this problem but the situation is worsening. Unfortunately, it may take some time to become aware that your identity is being used fraudulently and it could take some time to clear your name, prove your innocence and restore your reputation and credit status.

 

Apart from the usual and well publicised precautions regarding the shredding of all personal information documents, statements, invoices and the like be particularly fastidious if you are moving home.  A lax approach to the redirection of mail provides fraudsters with an ideal opportunity to access statements, utility bills and other personal correspondence. A very high proportion of identity theft involves the use of a previous address.

 

As a further safe guard, check your credit record at least annually and if you wish to increase your protection, sign up to one of the credit reference agencies automatic warnings which will alert you to enquiries regarding your credit.  If these are instigated by someone other than yourself you can act immediately.

 

 

 

 

In some cases it may be necessary and desirable that the Care Home maintains the service to it’s residents and patients beyond that normally available by most Care Home Policies.  The Care Home may, for example, engage the services of another home/s during the period of disruption following fire storm or other insured damage and thus continue to provide for it’s residents.

 

 

If the care home has charitable status, and provided the customer advises us before their renewal or when they buy a policy, they will be entitled to the charity trustee insurance extension at no extra cost.

 

It provides an indemnity for wrongful, but not deliberate or wilful, acts committed by a trustee.  Indemnity is also provided for legal liability following loss of or damage to a charity-related document.

 

Various other improvements and updates include automatic liability cover for mobility scooters in addition to wheelchairs in the premises and away from them, bequeathed property, increased valuables and property in the care home grounds together with fire extinguisher and alarm resetting expenses, discharge of oil and the loss of liquid petroleum gas. The debris removal extension now also extends to include the costs of removing fallen trees provided the buildings have been damaged at the same time.

 

The inclusion of these additional covers reinforces our position in the market and our continued determination to provide, at highly competitive premiums, a quality product that all our Care Home clients can rely upon.

 

 

 

Tel: 0208 336 0099 / Fax: 0208 336 0755