New framework launched to open up insurance market for social housing providers
Social housing landlords now have a greater choice when looking for insurance, and could save money, through a framework offered by YPO.
YPO, the UK’s largest public sector buying organisation, has launched its insurance for social housing framework, which aims to deliver greater competition and generate potential savings for landlords in what is historically a limited market place.
The framework’s aim is to address issues around transparency for insurance in the social housing sector and to create “a level playing field” for insurance providers, said YPO’s Category Buyer Agnieszka Gajli.
“For many years, registered providers of social housing have had a very limited choice when it comes to insurance provision. Traditionally, it was hard for landlords to get more than three quotes for their insurance due to risk factors. Now, through extensive engagement with the insurance industry, we’ve been able to open this up to more insurers than ever, being willing to bid for social landlord risks.
“The framework will empower social landlords to run an effective and successful insurance procurement exercise. It will challenge the norm with insurance agreements that have been lacking innovation for many years. We’ll provide guidance documents to help streamline the process, as well as create networking opportunities to meet and talk to insurers,” said Agnieszka.
For more details about the Insurance Solution for the Registered Providers of Social Housing, please contact Agnieszka Gajli, Category Buyer for Corporate and People Services.