Specialist education insurer Ecclesiastical has introduced The Independent Schools Risk Barometer to assist brokers in discussing the major risks faced by independent school clients.
The Independent Schools Risk Barometer 2024 was developed to explore the top risks within the independent education sector, focusing on key areas of concern such as managing mental health and wellbeing, mergers and acquisitions, and school building safety.
Research conducted by the insurer identified the biggest concerns for independent school leaders in the UK: the costs of maintaining school buildings (22%), managing the mental health and wellbeing of pupils (21%), and recruitment and retention of teachers (20%).
Additional concerns included the cost-of-living crisis (19%), managing mental health and wellbeing of staff (19%), and school inspections (19%).
The Independent Schools Risk Barometer 2024 is the latest in Ecclesiastical Insurance's series of sector insights, combining independent research with the insurer's specialist knowledge.
The report covers key risks, challenges, and opportunities for independent schools, including pupil safeguarding, pupil mental health, staff mental health, recruitment and retention of teachers, mergers and acquisitions, sustainable school buildings, and school building safety, repair, and maintenance.
Ecclesiastical is urging brokers to share the Independent Schools Risk Barometer and discuss these risks with their clients.
Laura Carter, customer segment director at Ecclesiastical Insurance, highlighted the insurer’s passion in supporting this specialist sector.
“As one of the leading insurers of independent schools in the UK, Ecclesiastical is passionate about supporting the independent education sector. Brokers play an important role in helping independent schools understand the risks they are facing and in ensuring they have the right cover in place,” Carter said.
“It’s no surprise to see that the cost-of-living crisis has exacerbated some of the biggest challenges facing independent schools and the costs of maintaining school buildings was cited as the biggest concern by independent school leaders,” Carter said. “We hope this report will help brokers encourage their independent school clients to think about the risks they face and how best to protect their organisations for the future.”
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