In a climate of economic uncertainty, protecting what you've got is a top priority for nursery providers of all shapes and sizes. There are many specialist insurers which have fine-tuned their services for the early years sector and kept pace with its changing demands. Latterly, this has meant extending their services to include a wide range of specialist support.
Croydon-based childcare insurance specialist Morton Michel has been in business for 45 years and says it provides cover for 17,000 childminders/nannies, 8,000 nurseries/playgroups, 5,000 out-of-school clubs and holiday play schemes, as well as for other voluntary and social enterprise groups.
The company offers a range of benefits through its Childcare Club, which includes access to resources for EYFS training, a childcare monthly newsletter, a monthly prize draw and discounts on days out to places such as Legoland and Alton Towers.
A popular option is its NurseryCare package, designed to meet the needs of private day nurseries and used by almost 3,000 nurseries nationwide. 'This comprehensive policy is value for money, enhanced by a no claims discount of up to 15 per cent,' says marketing manager Alex Meazzini. 'It can be adapted according to each provider's needs. The standard cover can be extended to include insurance for nursery buildings, as well as holiday and out-of-school activities for older children. Insurance for minibuses can also be arranged.'
Manchester insurer dot 2 dot believes providing a personal service that meets the client's needs is what makes its service special. It says that it currently renews 98 per cent of the policies it handles.
'Insurance is complex and each customer will need a different level of support with their purchase,' says director Jackie Hyde. 'In response to this, we make sure that each customer has a dedicated account-handler, who gets to know them personally.'
Dot 2 dot is also supported by specialist partners available to its clients. 'This team includes solicitors specialising in safeguarding, claims loss adjusters and an early years- specific online management toolkit - Croner-i for dot 2 dot,' says Ms Hyde. 'This is automatically included in each policy at no additional cost and provides expert help and advice on legal matters, health and safety, HR and Ofsted.'
She adds, 'All members are part of the dot 2 dot "club". We feel it is essential that we monitor all claims that are submitted, which enables us to identify and contain any trends. By sharing this information with our members and working to eliminate these trends, we can protect everyone from future problems.'
Peace of mind
Ipswich-based Pound Gates has launched a 'working partnership' package, designed to ensure that customers are aware of their individual insurance risks and have access to the support they need. It is backing this with a 'Certainty' campaign, whose message is that early years settings can achieve peace of mind in an economic climate where adequate insurance is vital.
The 'working partnership' package includes a dedicated point of contact with ongoing support, 24-hour online health and safety HR advice, including an 'ask the expert' service and extensive document downloads. Pound Gates offers discounts on its insurance to NDNA members.
Del Sharman, underwriting manager at Pound Gates, says, 'We have worked with a wide range of early years providers over the years and have seen the sector change dramatically. Today, commercial pressures, regulations and compliance for all involved are higher than ever. Assessing your risks properly can be the difference between sustaining a successful business and losing it.'
Mr Sharman says the company wants to extend its services. 'It's all about sharing our knowledge and providing comprehensive information to businesses to provide a degree of "certainty" about events that may affect them.'
He adds, 'The industry has expanded over the years and service expectations continue to grow. Many of the childcare experts we deal with have to be competent business managers with a wider remit and we aim to support them in this.'
Fees Protection
Nurseryplan is a new online insurance service that offers parents' protection for their childcare fees. The company is targeting nurseries, on the basis that when they promote the insurance to parents they will be indirectly protected.
Founder Pat Ball says, 'Nurseries benefit from this, as they know their children won't be removed mid-year following a sudden change in the family income. Nurseries can also use our cover for their key workers for sickness and accidents and can reduce costs of temporary staff.'
Nurseryplan's offer includes tax-free benefits, an option for parents to claim for other expenses - such as travel costs - and protection to childcare businesses. Ms Ball says Nursery-plan is proving particularly popular with childminders.
CONTACTS
- Morton Michel 0845 2570119; www.mortonmichel.com
- dot 2 dot 0161 724 2900; www.dot2dot.org.uk
- Pound Gates 0845 2713262; www.poundgateschildcare.com
- Northern Counties 0800 0461446; www.ncinsurance.co.uk
- William Taylor 01708 855 141; www.williamtaylor.org.uk
- Nurseryplan 0845 2626161; www.nurseryplan.co.uk
