Secure establishments

The risk

Until 2008, our customer was insured under a three year long term agreement arranged by a leading UK insurance broker.

In July 2008 we identified some shortfalls in the customer’s cover including:

• The broker had placed cover for all five of our customer’s independent companies under one trading name which was not the correct legal entity.
• The customer’s Malpractice Cover was inadequate because it did not cover the psychiatrists under their employment.

The solution

We offered to rectify these issues by:

• Arranging with a new insurance company cover for each of the five different companies, which meant that the companies were correctly insured and also eased administration for the customer.
• For each individual company, CARE also offered to amend their Malpractice Cover so that they would be fully covered for some psychiatrists within their contract of employment.

Following negotiation with the current insurance providers we were able to offer our customer reduced rates for 2008.

Having brought these issues to our customer’s attention they appointed us as their broker to handle the remaining year of their cover through their new insurance company.

Following our appointment we carried out a risk assessment on their secure children’s unit which has given the new insurance company a better understanding of this risk. This helped secure some additional discount on the 2008 renewal terms. 

Ref: AA5 CARE 109 110 v1.1