Annal Nayyar updates on Insurance

Insurance for academies and free schools has generally been more expensive than for maintained schools, because academies and free schools do not enjoy the same economies of scale as local authorities in procuring insurance. We have decided to introduce a voluntary risk pooling scheme for academies and free schools with effect from 1st September 2014. This means you will no longer have to face higher costs for insurance than maintained schools. You will still be free to secure your own insurance should you wish to do so.

All academies and free schools will be eligible to join the new scheme. In the first year, the cost will be a flat fee of £25 per pupil for all academies and free schools. If you are already paying less for appropriate insurance, it may be possible to charge less than £25 per pupil if you decide to join the scheme. The insurance supplement of £20 per pupil being paid in 2013/14 will be withdrawn from 2014/15, because the new scheme will provide an option of insurance at a price that does not require this top-up. We will reimburse the cost of insurance above £25 per pupil under current contracts until they expire.

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