Towergate offer new school closure insurance
Insurers Towergate have added a new type of policy to their product port folio. The School Closures Insurance has been launched to protect parents against the loss of earnings and any additional childcare costs they have to pay out when children are either sent home from school or are asked not to arrive.
Towergate say they are the first such company to launch this type of policy in the UK and are hoping that the cost of £30 per child per year will not be too far out of many of its customer’s pocket.
Chief executive officer, Jonathan Walker said: “There’s no doubt that unpredictable weather conditions are causing more and more schools to close.” He added: “This leaves many parents with the hassle of taking time off work or trying to arrange extra childcare at short notice.”
The conditions state that the school would need to be closed for a minimum of one day and that policy holders would receive up to £100 per day of closure for a maximum of five days. The school would need to be closed for the following reasons – flooding, boiler failure and snow. Policy holders would not need to prove their additional costs or provide evidence of loss of earnings.
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