At McClarrons, our Care & Social Welfare team are often asked about Abuse Cover\u00a0and the different types of insurance available. Here, we explain the two types typically available, what this means to you and what you need to consider.<\/p>\n
Unfortunately, we are increasingly seeing and hearing about abuse claims being made. This highlights the importance for any organisation that offers care to vulnerable people, to ensure that they understand the type of abuse coverage they have in place.<\/p>\n
Jonathan Copley, Account Executive in the Care & Social Welfare team at McClarrons, commented: \u201cIt is so important that clients know and understand what form of abuse cover they have as, simply by marketing their organisation’s insurance and moving to a new provider could potentially leave them with a gap\u00a0in their coverage\u201d.<\/p>\n
As you would expect, policies differ in the level of cover they offer. Many policies work on a ‘Claims Made’ basis, whilst others work on a ‘Claims Occurring’ basis.<\/p>\n
Claims Made<\/strong><\/p>\n This means that you are only covered for incidents that happen\u00a0and\u00a0<\/em>are notified to your insurer during the period of insurance. Therefore, any claim notified after this period, for example if you were to move to another insurer, may not be covered.<\/p>\n If you switch to a new provider you must then make sure you have Retrospective Cover, although this can be difficult as insurers have different approaches to covering the risk.<\/p>\n Claims Occurring<\/strong><\/p>\n With policies that work on a ‘Claims Occurring’ basis, this simply covers incidents which occur within the period of insurance. This means that even if the claim is made after the period of insurance, you would still be covered.<\/p>\n Markel also offer an illustrated\u00a0explanation in the short video below.<\/p>\n