Businesses Evolve
Over time, providers may:
- Increase resident numbers
- Open additional homes
- Change staffing structures
- Expand services
- Introduce transportation
- Take on more complex placements
These changes may affect insurance requirements.
Insurer Appetite Changes
The care sector insurance market can change rapidly.
An insurer comfortable with a risk two years ago may:
- Restrict cover
- Increase premiums
- Reduce limits
- Withdraw from the sector entirely
Regular reviews help identify better options.
Property Values Increase
Buildings and contents sums insured should be reviewed regularly to avoid underinsurance.
Rising construction costs can leave providers exposed if rebuild values are outdated.
Liability Limits Should Be Reviewed
Care providers should regularly assess whether liability limits remain adequate, particularly for:
- Employers’ Liability
- Public Liability
- Abuse Cover
- Professional Indemnity
Claims Trends Can Affect Exposure
Changes in claims trends may highlight areas requiring improved risk management.
This may include:
- Fire prevention
- Water leak controls
- Staff training
- Security measures
Annual Reviews Are Essential
A proper annual insurance review can help:
- Identify gaps in cover
- Improve insurer presentation
- Reduce disclosure risks
- Ensure policies remain suitable
At SRS Insurance, we work with children’s homes, supported accommodation providers, and residential care operators across the UK to provide specialist insurance advice tailored to the sector.
Speak to SRS Insurance Today
Whether you oversee a mosque, synagogue, church, temple or multi-faith centre, SRS Insurance can help review your cover and strengthen your protection.
We will:
- Evaluate your current insurance
- Identify gaps or outdated limits
- Recommend improvements
- Provide a tailored insurance package
- Support risk management and security planning
