Many Local Authorities across England and Wales currently support their schools by providing access to an in-house or mutual absence fund, this helps schools meet the cost of employing supply cover when teachers are absent. However, these funds may become vulnerable if a number of schools within a Local Authority have a catastrophic year as a result of excessively high levels of staff absence. Such catastrophes are difficult to predict.

Stop Loss Budget Protection works on the principle of insuring against the worst case scenarios occurring. The Local Authority fund continues to operate normally, but with the security of an additional layer of insurance to protect against unexpectedly high levels of staff absence. This helps protect against the risk of having a disastrous year whilst still enabling the Local Authority to continue to offer their schools access to an in-house fund.

We currently provide a number of Local Authorities with Stop Loss Budget Protection. 

If you would like to explore the viability of protecting your in-house fund with Stop Loss Budget Protection, please call Steve Lewins on 0800 169 7369, or email him steve.lewins@capitabest.co.uk

Please click our related documents to review an Stop Loss Budget Protection Case Study: Vale of Glamorgan Council