Business

FLI launches foster carer insurance 

Distributed via London Market broker Circle Insurance Services to Cass-Stephens, the scheme provides legal expenses cover for complaints relating to foster care

Financial and Legal Insurance (FLI) has launched a new specialist legal expenses insurance (LEI) product that is designed for foster carers. 

Distributed via London Market broker Circle Insurance Services to broker Cass-Stephens, the scheme provides legal expenses cover for complaints relating to foster care, as well as loss of earnings cover for foster parents.

It comes as almost 2,500 complaints were made against foster carers between 2019 and 2020, of which 63% were made by fostered children against their foster carers. The other third came from other sources. FLI added that there is a 20% chance that a foster carer will get a complaint during their career.

Ian Kember, the business development lead at FLI, has adopted a child himself and said his “personal knowledge of the sector was a key factor behind FLI picking up the challenge”. 

He said: “Fostering children is a high pressure job and carers who receive complaints face significant reputational risk, as well as loss of earnings. Circle came to us asking for help to develop a product that, as well as covering legal expenses, also protected agency members against loss of earnings. 

“Our product is the first in this specialist field to include cover for loss of earnings. It costs £100 and will be offered via the broker, Cass Stephens to members of the fostering agency they look after. Many foster parents rely on their earnings from fostering for their income and cannot afford to lose their livelihoods.” 

Nicola Bradshaw, account handler at broker Circle Insurance said: “It’s great that FLI has been able to step in and provide this service for foster carers. The cover will be moulded into a package of products and offered to agency members via  monthly subscription. They expect to see 90% take up of this insurance among their members, and will use it to attract new members to the agency.

“The FLI team really understood what was required and that experience has enabled us to provide our client a product which they believe will help improve the chances of bringing candidates to do this socially essential role.”

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