Compass Underwriting has launched a flexible accident and sickness plan for driving instructors. Com...
Compass Underwriting has launched a flexible accident and sickness plan for driving instructors.
Compass, the specialist Lloyd's-based consortium manager, teamed up with the Driving Instructors' Association (DIA) to develop the specialist product which will be sold through the DIA's brokers.
The scheme offers cover for classroom trainers and the busiest of road and track instructors providing insurance in the event of accident or sickness, including stress.
Andrew Briant, Compass managing director, believed the underwriting firm had identified a core value in group markets of which the DIA was just one.
He said: "Accidents and sickness can happen to anyone, particularly in a high profile job like driver training."
Graham Fryer, chief executive of the Driving Instructors Association, said the initiative reiterated the association's commitment to its 10,000 members. He said: "We are to driving instructors what the British Medical Council is to doctors. It is unusual to have so many self-employed people who fall under the one roof.
"Being self-employed means a product like this becomes even more important. Driving instructing is a cottage industry but this represents an exciting step forward and our members are looking forward to this product with great enthusiasm."
The DIA plan offers tailored cover with unisex premium rates and no age loading up to 61. Benefits are tax free and most amateur sports and hobbies are covered.
There are six levels of cover, all of which offer cash in the case of accidental death, dismemberment, accidental permanent total disablement and cash each week as income protection.
Accident plans start at £5.25 a month; accident and sickness start at £11.50 going up to £26.00 per month for the Premium plan which pays £100,000 for death/disablement; and £250 a week in income protection for 52 weeks.
