Howden brings exclusive new social care scheme to market

In a groundbreaking development for social care providers, Howden has struck an exclusive partnership deal with A-rated insurance provider AWAC, a rare market entry for the beleaguered sector.

It brings a fresh wave of opportunity and optimism to a sector hit hard by Covid-19, which saw many care businesses impacted by soaring premiums. Numerous insurers either left the arena altogether or remained but added restrictive clauses and increased their rates as a result of lower competition.

Through Howden, AWAC’s policies will cover care homes, domiciliary care agencies, hospices, rehab units and sheltered and supported living accommodation, offering increased choice and the potential to create a more balanced and accessible market for care providers.

AWAC’s willingness to provide standard coverage to those care businesses rated as ‘Requires Improvement’ by regulators will be welcomed by providers that have faced punitive premiums, too.

Richard Hearn, Divisional Director at Howden Social Health, said: “Howden and AWAC’s partnership underscores the depth of our commitment to this sector, and marks the start of a positive new era that will restore confidence and deliver much needed support to care providers.”

Whilst the majority of the market’s policies do not inherently encompass medical malpractice or the inclusion of prescribing nurses, AWAC distinguishes itself in this regard. It automatically provides such coverage to relevant staff members. Currently, many nursing homes and other residential facilities employ such nurses without realising their existing policies lack this essential feature.

Hearn added: “AWAC’s coverage underscores the importance of educating nursing homes and other organisations within the social care sector regarding the automatic coverage provided by AWAC – and the need for reviewing existing policies to ensure this crucial detail is not overlooked.

“The social care insurance sector is on the cusp of a significant transformation with AWAC’s participation. I firmly believe that the partnership with Howden will bring a more accessible edge to the market.

“This partnership signals a brave new beginning for the sector as it emerges slowly into a new normal.”

The alliance with AWAC further bolsters Howden’s strength in the social care sector, where it has 25 years of experience, significant reach and over 21,800 health and care clients*, as well as key sector partnerships such as the National Care Association.

^{* as of the 13th Oct 2023}