Navigating Insurance and How to Mitigate Risks for the Care Sector

The independent adult social care sector is the backbone of support for millions of individuals and their families, providing essential services that uphold dignity and independence. Yet, operating in this sector comes with a unique set of risks, many of which have been amplified by the COVID-19 pandemic. Historic rises in insurance premiums and evolving challenges around risk management have placed additional burdens on care providers, threatening their ability to deliver the high-quality care society depends upon.

Recognising these pressures, Care England has commissioned Towergate Insurance to produce this must-read report for all social care providers a good three months prior to renewing their insurance to enlighten their understanding of both best practice and to ensure key risks are mitigated. With over 14 years of partnership and decades of experience in the sector, Towergate has proven itself uniquely equipped to navigate the complexities of care sector insurance. During the pandemic, when many insurers exited the market, Towergate remained steadfast, offering renewal terms, supporting providers, and ensuring claims were paid. Care England is concerned at the re-entry of some brokers looking to capitalise on the care sector. Our enduring partnership with Towergate reflects a shared commitment to equipping care providers with the essential tools, knowledge and insight they need to navigate the world of insurance to succeed.

This report serves as a vital resource, addressing not only the fluctuating cost of premiums but also the dangers of underinsurance and the critical importance of having the right cover and protections in place. It provides practical insights on topics such as the impact of CQC ratings on policies, mitigating cyber risks, and understanding liability, offering care providers the knowledge needed to safeguard their operations and focus on what matters most, delivering quality care.

As the sector faces increasing uncertainty, this report highlights the role of insurance not just as a protective measure but as an enabler of resilience. By ensuring that organisations are properly covered, we can help secure the long-term sustainability of care services, protecting the people who rely on them and the dedicated workforce who provide care.

The report further highlights the importance of health and protection, especially for small to medium-sized businesses as they face the most challenges when it comes to healthcare within their organisation. Ensuring you are properly insured is crucial to ensure your organisation is protected.

The full report, Navigating Insurance and How to Mitigate Risks, is available here

Read the Press Release here