Childcare insurance costs soar - Take gloves off
The latest instalment in the scandal of how insurance costs are overly influential is the news that thousands of parents may not have childcare from January.
A lead insurance provider in the sector has withdrawn from the market. Hence, some of the country’s 4,400 childcare providers have been quoted a premium treble current rates. Some have no cover.
In many cases, parents will have no option but to pay higher charges which will inevitably have an impact in other areas of their lives, particularly if they are trying to escape the prospect of being trapped as a life-long tenant.
This drama has many actors and many causes. Incomprehensible delays in legal reform, “no foal no fee” professionals, judges with a Santa Claus complex, and insurance companies’ determination to protect and grow profits all play a part, but they are secondary.
Claims for fantasy or minor injuries are the primary driver. Without them this lucrative cottage industry collapses.
It’s time for sterner judges, a few perjury prosecutions, and a far less tolerant attitude to shabby opportunism that impacts on all of society.
