Schools: Risk Management

(asked on 6th January 2021) - View Source

Question to the Department for Education:

To ask the Secretary of State for Education, what estimate his Department has made of the loss ratio for the Risk Protection Arrangement in each financial year since 2014-15.


Answered by
Nick Gibb Portrait
Nick Gibb
This question was answered on 15th January 2021

Table 1, attached, shows the number of academies either part of multi academy trusts or themselves single academy trusts and Local Authority Maintained Schools (LAMS) that have joined the risk protection arrangement (RPA) by financial year, accounting for opt-outs. Please note that RPA for LAMS was only made available to them to join from 1 April 2020.

Table 2 in the attachment shows the loss ratio (claims made plus adjustment expenses divided by total membership fee) for the RPA in each financial year since 2014-15. The current incomplete financial year has not been provided.

Government Actuary’s Department undertake a bi-annual review of the RPA provisions which assess the development of RPA claims over time. These reports are publicly available here: https://www.gov.uk/government/publications/risk-protection-arrangement-rpa-summary-provisioning-analysis.

The total cost to date of COVID-19 related travel cancellation claims made by RPA members is £45,207,903.11 which equates to 5,658 of claims.

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