Yurtle has launched an insurance product, Protect+, to support employees who are parents and carers.
The insurance, developed with carrier Convex and broker Price Forbes, gives a solution designed to reduce unplanned absences and lessen the impact of unexpected costs for carers.
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Coverage and cash support is given from Yurtle to parents and carers when:
- Their dependent is discharged from hospital and care is required pending an assessment or provision of support by the local authority;
- Regular social care is interrupted for any reason, for example due to staff shortages or illness of the carer;
- A child up to the age of 15 is ill and unable to attend nursery or school, or
- A nursery is permanently closed and an alternative solution needs to be found.
Antonio Ribeiro, founder of Yurtle, said: “This is an exciting innovation that will allow employers to address absence while better supporting carers in their workforce when they need help the most. Care breakdowns are very common – four out of five people caring for an adult have experienced one that has impacted their ability to work. These unplanned absences can be extremely stressful for the carer and not only affect their work, but that of those they work with, impacting productivity and profitability. With millions of employees taking on caring responsibilities every year, there is a growing need for employers to address this issue and take steps to mitigate the impact.”
Oliver Tozer, Class Underwriter, Accident & Health of Convex, commented: “At Convex, we are committed to delivering tailored insurance solutions which meet our clients’ needs. Yurtle’s dedication to innovation within an underserved demographic of the workplace uncovered a distinctive opportunity which aligns with our values. We are thrilled to collaborate with them to launch a groundbreaking product designed to support caregivers.”
Daniel Dunlop, Director Personal Accident & Contingency of Price Forbes, added: “Yurtle offer an A* product supported by an A rated Insurer that enables caregivers financial support at the times when it is most needed.”
