Towergate Insurance has launched School Closures Insurance to protect working parents from loss of earnings and additional childcare costs.
More and more employers have introduced adverse weather policies which can mean staff lose pay for taking days off to look after their children as a result of bad weather.
The insurance policy, which starts at £30 per annum for each child, covers employees once a school has been closed for more than one day because of snow, flooding or a boiler failure.
In the event of a school closing, employees will receive £100 per day for up to a maximum of five days.
There is no requirement for working parents using the policy to prove any loss of earnings or additional childcare costs.
Jonathan Walker, chief executive officer, Towergate Insurance said: “There’s no doubt that unpredictable weather conditions are causing more and more schools to close.
“This leaves many parents with the hassle of taking time off work or trying to arrange extra childcare at short notice.
“We believe that many parents will welcome this new insurance facility helping them to stay ahead of unavoidable school closures.”
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