Insights from Jackie Hyde
The early years sector is on the crest of a wave, facing a perfect storm of risks. From safeguarding challenges to cyber threats, extreme weather, and increasing medical needs among children, nursery owners must navigate a complex landscape. Jackie Hyde, Managing Director of dot2dot nursery insurance, explores these emerging risks in her recent feature for NMT Magazine.
Safeguarding Risks Are Changing
High-profile safeguarding cases, including the BBC Panorama programme How Safe Are Our Nurseries?, have put the sector under the spotlight. Nursery managers often take on immense responsibilities at a young age. Failings at the nursery or individual level can lead to serious legal consequences. Regulatory bodies, such as Ofsted, are more vigilant and may suspend nurseries during investigations. This can happen to any nursery, whether single-site or part of a large group.
How Nurseries Can Mitigate Risk
CCTV monitoring is crucial. Nurseries should monitor footage carefully and document outcomes to show strong management practices. A thorough recruitment process and a robust whistleblowing policy give staff confidence to report issues early. These steps help prevent incidents and protect children, staff, and the nurseries reputation.
Considering External Risks
Nurseries should also think about risks outside their walls as terrorism insurance may be necessary even outside major cities or near unexpected targets. Extreme weather is increasing flood and subsidence claims, and insurers may raise excesses or exclude coverage. Nursery owners must review policy updates carefully and ensure they fully understand coverage.
Cyber Risks Are Increasing
Cyber attacks are a growing concern and high-profile cases have prompted many nurseries to review their cyber insurance. Nursery owners should ensure they understand what is covered and what support is available if an incident occurs. Consulting insurance advisors helps assess risk and decide on appropriate coverage.
The Wider Perfect Storm
In addition to legal, cyber, and environmental risks, nurseries are seeing more children with complex medical needs or allergies. Insurance is about understanding risk, deciding what to cover, and mitigating what cannot be insured. Awareness and proactive management are key.
Nurseries are strong and resilient, but the sector is facing many simultaneous challenges. By reviewing insurance policies, implementing robust processes, and seeking expert guidance, nursery owners can protect their staff, children, and business against these emerging risks.
Read the full feature in NMT Magazine: A Perfect Storm – NMT Magazine or for advice and support contact us.