Social Welfare Insurance
What is considered social welfare?
Defining social welfare can be tricky, we define social welfare as the provision of services to members of the community in order to aid or improve wellbeing and health. Social welfare can be anything from a Rehabilitation centre to a Children’s Home, from a Specific Needs School to a Charity. It is a fundamental industry in the UK.
The need for businesses supplying social welfare has never been greater. More people than ever before are looking to get help. This is due to more people being aware of the signs, more people being willing to admit an issue and get help to fix it. This has been reflected in a rise in the importance of social welfare insurance.
Understanding your regulations
As part of the social welfare industry we understand that you will be regulated by a body in order to ensure the safety and professionalism of the service that you provide. The type of service you provide will determine the regulatory body you are coordinated by . However if you are a charity you will be regulated by the charities commission. Different regulators will have different regulations. As a result it becomes difficult for businesses to understand what is expected of them.
Social welfare insurers can help you understand your regulations and as a result help you to reduce your risks. This is good practice for both you and the insurer. Regulators will also work with you to help you be compliant.
Regulations will give you the parameters of your work as a business but also be a set of guidelines to help you operate safely and successfully limiting risks and exposures.
Understanding your service users
Understanding the requirements of your service users and how they are likely to behave and there needs are not only fundamental to your business. Having a clear understanding of their needs will help you to reduce your risks. For example, if a service user needs a medication but you don’t know that information, you can be perceived as being negligent and as a result a claim may come against you.
The needs of service users will vary from business to business and person to person. Being able to cater for these needs is often a very tricky task. One which will sometimes require medical help for an individual service user. Often medical malpractice is overlooked on this type of insurance as the lines between medical malpractice and professional indemnity cross. In the past it has been a line which has left businesses with a gap in cover which has led to big losses. We pride ourselves on covering this gap and also being able to provide cover that protects the business from all major exposures and risks.
Social Welfare Insurances you may need
Insurance will vary from business to business. But we feel it is important that you are able to see all of the options and make an educated decision along with our expert advice. The covers you may choose to look at include;
- Public Liability insurance, this is a standard cover that covers any member of the public should they get injured on premises or as a result of an act from a member of staff. This will also cover any damage caused by an act of the business to a third party.
- Abuse cover, this covers any bodily injury or stress caused as a result of physical, financial, sexual, psychological abuse or neglect by an employee to a service user.
- Business interruption insurance, this is exactly as it sounds. Should an incident occur whereby the business cannot operate for a period of time the insurance will cover any loss of income from the incident.
- Professional indemnity insurance, this will cover any errors or omissions of the business carrying out its services, whether that be in a residential setting or out in the community.
- Employers liability insurance, this is a legal requirement for any business with employee’s. This covers them should they get injured or fall ill while at work due to work.
- Medical malpractice insurance, this covers any medical treatment that has been given to a service user, and covers the costs associated with improper medical care given.
- Cyber insurance, this is to protect any data that you may have on service users and is often considered by businesses holding sensitive data.
- Property damage insurance, this will cover the premises that the business operates from. This is standard insurance cover and can cover damage done to the building and can be extended to cover contents if required.
What type of businesses are we able to cover?
There are several types of business that can come under the umbrella of social welfare insurance, these include;
- Adult placements / assisted living
- Charities, not-for-profit and voluntary organisations
- Children’s homes
- Counselling and therapy services
- Drug and alcohol rehabilitation
- Education, literacy and training services (not ‘conventional’ schools and colleges)including Specialist Needs Schools
- Mental health support
- Rehabilitation and halfway houses
- Respite care providers
- Supported living