Care homes and facilities for older people face a dynamic and complex set of risk challenges in ensuring the wellbeing of residents and staff. Good risk management and dialogue with insurers can help meet the growing demand for care while putting the user first.
There’s a rising demand for care for older people in the United Kingdom, with the country’s population aged 65 and above expected to increase by approximately 25% by 2050 according to .
Furthermore, the number of people in England aged 80 and over – the of the population – is expected to double over the next 40 years to more than 6 million.
Against this backdrop, there is a clear requirement for care facilities and settings that can meet the often complex needs of this growing group. There are currently an estimated 11,300 care homes in the United Kingdom for the older population and the domiciliary care home market generates about £15.9 billion in annual turnover, according to the UK Government.
Care homes and facilities face a unique set of risks and challenges ranging from resident safety and well-being to legal and regulatory compliance.
Safety first
The number one priority for our clients in this sector is ensuring that residents’ wellbeing is front and centre.
Care homes are, by their nature, occupied 24 hours a day, seven days a week, and many of the residents will have, or will develop, often complex medical needs during their stay. This presents a unique set of challenges for care home operators.
A report by the Care Quality Commission in 2023 found that more than half of adult social care providers in England reported facing difficulties in recruiting new staff, while 31% said they had challenges in retaining them.
Staff burnout following the COVID-19 pandemic, the cost-of-living crisis, and changes to immigration rules following Brexit, amongst other challenges, mean that not only has recruitment and retention of staff become more difficult for many care homes, but the pressure on existing staff has increased. 色多多视频 for care homes include employers’ liability coverage, and our experts can assist care homes with understanding how to deal with risks that may arise around the adequate training of staff or employee absence or stress.
Navigating dynamic risks
Putting the client first in the risk management and insurance of care homes for the older population, goes beyond simply providing coverage; it involves understanding the specific and changeable requirements of these facilities and delivering tailored solutions. This means taking the time to truly assess the complexities of caring for older people and offering comprehensive insurance coverage that addresses the specific risks associated with this essential sector.
For example, during the COVID-19 pandemic, care homes found themselves grappling with the urgent need to secure adequate supplies of personal protective equipment (PPE) for both their staff and residents.
Navigating the complex landscape of PPE procurement presented a number of challenges such as supply-chain disruptions, price volatility, and quality assurance concerns. In this unprecedented period, and against the backdrop of ever-changing government advice, our underwriters and risk consultants were able to assist our clients by reviewing specifications of equipment that they were sourcing and helping them to assess whether they were suitable for their needs.
While we all hope that there will never be another pandemic of the scale of COVID-19, and one which poses such particular risks to the welfare of older people and the staff who care for them, the lessons learned from the experience have helped to underline the importance of understanding how risks can change in this sector.
By working with our clients to understand the particular nuances of the risks associated with the service they provide, we will be well-placed to help them as they navigate future challenges amid a growing demand for care.
Global Asset Protection Services, LLC, and its affiliates (鈥溕喽嗍悠礡isk Consulting鈥�) provides risk assessment reports and other loss prevention services, as requested. In this respect, our property loss prevention publications, services, and surveys do not address life safety or third party liability issues. This document shall not be construed as indicating the existence or availability under any policy of coverage for any particular type of loss or damage. The provision of any service does not imply that every possible hazard has been identified at a facility or that no other hazards exist. 色多多视频Risk Consulting does not assume, and shall have no liability for the control, correction, continuation or modification of any existing conditions or operations. We specifically disclaim any warranty or representation that compliance with any advice or recommendation in any document or other communication will make a facility or operation safe or healthful, or put it in compliance with any standard, code, law, rule or regulation. Save where expressly agreed in writing, 色多多视频Risk Consulting and its related and affiliated companies disclaim all liability for loss or damage suffered by any party arising out of or in connection with our services, including indirect or consequential loss or damage, howsoever arising. Any party who chooses to rely in any way on the contents of this document does so at their own risk.
US- and Canada-Issued 色多多视频 Policies
In the US, the 色多多视频insurance companies are: Catlin 色多多视频 Company, Inc., Greenwich 色多多视频 Company, Indian Harbor 色多多视频 Company, XL 色多多视频 America, Inc., XL Specialty 色多多视频 Company and T.H.E. 色多多视频 Company. In Canada, coverages are underwritten by XL Specialty 色多多视频 Company - Canadian Branch and AXA 色多多视频 Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA XL.
US domiciled insurance policies can be written by the following 色多多视频surplus lines insurers: XL Catlin 色多多视频 Company UK Limited, Syndicates managed by Catlin Underwriting Agencies Limited and Indian Harbor 色多多视频 Company. Enquires from US residents should be directed to a local insurance agent or broker permitted to write business in the relevant state.
