A new guide to help brokers talk through existing and emerging risks with independent school bursars has been released by specialist insurer, Ecclesiastical.
Ecclesiastical’s Education Insight guide provides advice and guidance to help address the top concerns facing independent schools including health and safety, data protection and cyber-risks, the impact of Brexit on the sector, and managing reputational risks.
The guide is the latest in a series of sector insights from Ecclesiastical, combining independent research with specialist guidance from the insurer’s expert risk management team.
With the September renewal period just around the corner, now is the perfect time for brokers to be speaking to their education clients about how best to protect their schools.
Research undertaken by the insurer identified reputational risk as the biggest concern for independent schools, with pupil well-being and safeguarding completing the top three. Alongside this a live poll run by Ecclesiastical at the Independent School Bursars Association annual conference in Brighton last month, also revealed that health and safety and cyber risks are the two areas that bursars feel they need the most support with.
Faith Kitchen, education director for Ecclesiastical explained. “During the 55 years we’ve been insuring independent schools, we have developed a deep understanding of the issues affecting the market.
“The sector has undergone huge changes in that time and while traditional risks such as health and safety and property maintenance continue to feature on the sector’s risk agenda, new and emerging issues such as cyber security and crime and reputational risks are becoming much more of a concern for independent schools.”
The concern surrounding the impact of cyber-crime has increased substantially year on year across the sector (from 61% to 68%) with 77% of independent schools identifying it as a concern.
Faith added: “Brokers play an important role in helping clients understand the risks they are facing and in ensuring that the right cover is in place for their clients. New risks such as cyber-crime and reputation management often require specialist expertise and knowledge, which many education establishments may not have access to.
“As a specialist insurer for the education sector we believe our knowledge and insight in to the management of issues that are impacting the sector can be of real value. We hope that the Ecclesiastical Education Insights guide will encourage bursars to think about these risks and aid conversations between brokers and their clients when it comes to finding the right cover to protect their schools.”
Brokers can download a copy of the Ecclesiastical Education Insight guide here.