31 AugMake sure your Early Learning Service (ELS) is really covered for insurance
Insurance for Childcare and Early Learning Centres is a complicated, multifaceted thing, with organisations like yours needing to consider cover across a wide range of areas including Workplace Health & Safety, Property, Cyber Crime, Management Liability, and Liability that extends to cover the risk of molestation.
According to Stephen from AB Phillips, this level of complexity means you need to think beyond just what policies you take out.
“Recent events in the industry have highlighted that while insurance cover is essential, you also need to make sure you’re minimising your risks. This not only helps prevents incidents happening in the first place, it also helps to minimise your premiums by showing you’ve done everything you should to reduce risk in the event you face an investigation or need to make a claim.”
AB Phillips’ suggestions include:
- keep your Work, Health and Safety (WH&S) systems up-to-date and include documented daily safety checks
- review your Property insurance annually to make sure values are correct
- make sure your Liability cover includes molestation and other major risks
- extend your cover to include Management Liability
- include Cyber cover in case any of your client or staff data is compromised or your essential I.T. systems go down.
Our key piece of advice though is simple, “Stay in regular contact with your broker. A short phone call to make sure your cover is up-to-date and you’re minimising your risks in the places the policy providers need to see is one of the best investments you can make in a sector like Early Childhood Education and Care, where the landscape is constantly evolving.”
If you’d like to know more about how your ELS can be really covered, request a call back by one of the AB Phillips specialist team by CLICKING HERE or find out more by CLICKING HERE .
