Zurich temporarily upping cover for cash held on school premises
07/03/2022
More than 1 in 5 state school pupils are eligible for free school meals according to latest government figures. To protect its school customers who are continuing to provide this benefit through the school holidays, Zurich Municipal has temporarily upped its theft cover for schools at no extra cost.
Across the UK, many local authorities are continuing to provide supermarket vouchers to families eligible for free meals, continuing the previously centralised initiative driven by the campaign of footballer, Marcus Rashford, who said it would improve the lives of nearly 1.7 million children. Families can typically receive the vouchers by email, or as physical gift cards for those without internet access.
According to the Department of Education, the number of school pupils eligible for school meals in England has increased over the last few years. At a time when households across the UK are struggling to make their incomes stretch to cover the rising cost of living, the school meal vouchers will be a saving grace to many.
But the vouchers may amount to thousands of pounds being held on school premises, presenting a risk of theft, and it is therefore important that schools are aware of the security risks which may emerge when holding cash or gift cards on their premises.
To protect schools, Zurich has temporarily increased the amount of cash its 10,000 school customers are covered for holding on their premises, from £500 to £10,000. Provided the vouchers are held in a safe, Zurich Municipal will cover up to the equivalent of £10,000 in vouchers, or up to £1,000 if in a locked receptacle.
Sarah Rowan, Public Services Segment Manager for Zurich Municipal, said:
“Spiralling food and energy bills are leaving many families struggling to make ends meet. Given these financial pressures, it’s absolutely essential that families get all the support they need, including support with meals.
“With our customers potentially holding thousands of pounds in cash gift cards over the coming weeks, we’re enhancing our cover for theft, at no extra cost.”
If you wish to discuss anything raised in this article, please get in touch with your usual Risk and Insurance Consultant (RIC).
