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Care home system could collapse due to £80m rise in insurance costs after pandemic

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www.mirror.co.uk

Care homes risk being driven to the wall by an £80million rise in insurance costs due to Covid-19. One provider was shocked by quotes costing 880% more after his existing insurer refused to continue its cover.

St Cecilia’s Care Group’s three homes in Scarborough, North Yorks, were paying £10,000 a year for cover. But when owner Mike Padgham tried to renew, he was quoted £98,000.

He finally ­managed to settle for a premium of £18,000 – 80% more. Mr Padgham, who is chairman of the Independent Care Group representing homes nationwide, said: “Our previous insurer, like many others, has stopped ­offering cover to care providers because they say they are too risky. “Those that are offering cover are charging huge premiums ­because of the risk

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