Let’s look at a 6 partner practice where, until now, they have not bothered with locum insurance as they simply cover for each other.
Then consider the partner I saw the other day who was exhausted after yet another 15 hour day, covering for a colleague who was off sick.
To insure the 6 partners, for £1,000 a week per person, would cost the practice a total of £4,250 a year on our most extensive locum insurance policy. Or they could choose a policy with fewer benefits – but which would still pay out £1,000 a week per person – for as little as £2,160 a year. (You will need to check with your accountant, but this should be tax relievable as a business expense.)
