Many firms operating in the health and care sector prefer to use an independent insurance broker because they need access to the full breadth of the care insurance market, rather than a limited selection of schemes or products.
As operational pressures, regulatory scrutiny and financial constraints intensify across the sector, care providers increasingly view independent insurance broking expertise as an essential component of their risk management strategy, rather than a discretionary service.
Rico Young, from the health and care division of independent insurance broking and risk management specialist TL Dallas, said: “Feedback from the hundreds of health and care operators we work with tells us that independence genuinely matters. Providers want brokers who understand the nuances of their operations, who have access to every insurer in the market, and who can negotiate tailored cover rather than offering a pre-set scheme. The sector is too complex, too tightly regulated, and too exposed to emerging risks for a one-size-fits-all approach.”
Founded in 1919, TL Dallas is one of the UK’s longest-established independent insurance broking and risk management companies and employs more than 220 people across 14 offices throughout the UK, between the Shetland Islands and London.
Within this national footprint, TL Dallas has developed a specialist focus on the health and care sector. Its care division supports a wide range of organisations, including nursing and residential homes, domiciliary care agencies, supported living services and complex specialist providers.
Rico added: “Independence translates directly into choice, value and accurate risk placement. Typically, many brokers can only offer a single scheme or a narrow panel of insurers. By contrast, we have access to all major care insurance markets. This allows our team of care specialists to perform a full market review for each client, assess the nuances of their operations and negotiate policies that align precisely with their exposure profile.”
This approach has become more important over the past decade as the risk environment for care providers has expanded beyond traditional areas such as property, liability and regulatory compliance. Rico added: “In addition to these core risks, modern care organisations must contend with complex employment issues, increased governance expectations and the growing threat of cybercrime. That’s why we place significant emphasis on covers that address the realities of modern care, and the two areas that really stand out are Management Liability Protection (MLP) and cyber insurance.”
MLP, which protects directors and senior managers against claims relating to regulation, governance or employment disputes, is becoming increasingly relevant given the heightened scrutiny of the sector. Rico said: “Allegations relating to staffing, safeguarding or compliance can have personal and financial repercussions for leadership teams. Ensuring that senior decision-makers are protected is now viewed as a critical risk management measure, not a discretionary add-on.”
Cyber insurance has also moved up the agenda. Rico added: “Care providers hold sensitive personal and medical information, making them prime targets for ransomware attacks and data breaches. Beyond the immediate technical response, cyber incidents have the potential to disrupt service continuity and damage provider reputation. Comprehensive cyber cover provides not only financial protection but also specialist support in the event of an attack, which is an increasingly vital safety net.”
Despite this expanded risk landscape, TL Dallas stresses that the core principles of effective care insurance remain unchanged. Rico said: “Each organisation requires tailored cover, competitive pricing and clear explanations. The annual review process is as important as the initial placement, ensuring that policies remain aligned with changes in the organisation’s size, service mix, staffing model, or regulatory environment.”
Client feedback also reveals that health and care businesses value the simplicity and transparency of working with an independent broker that acts exclusively in their interests. Rico said: “Care providers tell us they appreciate the clarity we bring to the process. They do not have time to contact multiple brokers or interpret competing quotes. They want someone who can undertake a full market exercise, present clear options and provide ongoing guidance throughout the year.
“These organisations are already under significant financial and operational pressure. Insurance should not add to that burden. Our role is to reduce complexity, ensure accuracy and give providers confidence that their risks are properly managed.”
As the care sector continues to evolve, TL Dallas anticipates sustained demand for independent insurance advice grounded in specialist sector knowledge – and firms that have an in-house claims team like TL Dallas are in demand. Rico concluded: “Our in-house claims team gives peace of mind that when something bad happens there is a real person on the end of the phone ready and waiting to help – not a call centre or online chat box!”
TL Dallas also works closely with other industry experts including solicitors, risk management professionals and Care Quality Commission (CQC) advisors to provide a wealth of knowledge and relevant guidance to clients.
Visit: www.tldallas.com/health-and-care-insurance or email rico.young@tldallas.com or call Rico on 01274 465577 to book a complimentary review.