• About you
  • About risk
  • Opinion
  • Applying

School's out - for winter?

School closures are the latest event you can insure against, after it was revealed that an insurance firm is offering just such a polcy.

It's being hailed as "the first of its type" according to Towergate, who say their offering is designed to cover lost earnings and unexpected extra childcare costs associated with school closures.

As reported by The Guardian, the policy, which costs £30 per child, will pay out £100 a day once the child's school has closed for more than one day because of snow, flooding or boiler failure. Parents don't even need to have lost money to claim, but simply prove the school's closure meets the criteria.

With thousands of schools closing during the cold snap of December, it seems likely that people with jobs in insurance companies will see a flurry of customers enquiring about similar policies in a bid to turn the negative situation of school closures into a positive.

"Recent weather events have caused an increasing level of school closures, and employers often insist that time off to look after children is taken as unpaid leave or as holiday, explained a spokesman for Towergate Insurance.

However, people wanting to take out a policy have been warned that they won't be set to make thousands of pounds if they're snowed in for a long period of time, because the annual payout will be capped at £500.

« Back to all news
blog comments powered by Disqus
IAG | Terms & Conditions | Cookie Policy |Sitemap | © Copyright 2016 The Chartered Insurance Institute. All rights reserved

Website by itineris | Email Marketing by Little Green Plane