Oxygen develops niche home insurance scheme

Oxygen Insurance Brokers has launched a home insurance scheme offering tailored insurance cover for psychological professionals in the UK who see clients at home.

The Oxygen Psychological Professionals Home Insurance Scheme will be underwritten by specialist charity and care insurer Ecclesiastical.

Oxygen already provides professional liability insurance to the psychological professions. Ecclesiastical claimed the new scheme had been launched due to demand for cover from these professions, particularly counsellors and psychotherapists who often encounter problems with home insurance when they disclose they have clients visiting them at home.

The provider added that the new product was a Defaqto rated household product that included a work from home extension. It said the product also provided business interruption cover, cover for business money and does not apply the usual forcible and violent entry restrictions for business visitors to the theft and malicious damage cover.

The home insurance product is currently only available through Oxygen.

The scheme has been developed by Oxygen's head of affinity, Steve Johnson.

Understanding the nature of the work
He explained: "Many counsellors, psychotherapists and an increasing number of coaching professionals work from home and have clients visiting them there.

"Our experience shows that our customers in the psychological professions have often encountered difficulties when trying to arrange suitable home insurance that would allow them to see clients at home. This is mainly due to home insurers not fully understanding the nature of the work such professionals do."

He continued: "In Ecclesiastical we have an insurer who is familiar with the caring profession and who was ready to listen to the problem and willing to provide a solution. Oxygen is constantly looking to improve the products and services it offers to its customers and we believe the new scheme will fill a gap in the market."

Perfect match
Tony Bloomer, schemes and affinities director at Ecclesiastical, added: "We are always on the look-out for well thought-through professional schemes that add value and help create efficiencies for professionals.

"Our partnership with Oxygen on this scheme is a perfect match for us due to the expertise and knowledge required and available in both our businesses."