Padraic Smith Insurance Broker had previously informed the Department of Children and Youth Affairs that they were providing insurance services to 1,300 childcare providers.
Yesterday Allianz, the remaining underwriter providing insurance for childcare providers, informed the department that it had provided insurance quotes to 1,100 new customers.
Today they have informed the department that the the number of quotations had increased to 1,382.
The department understands that a small number of applications have yet to be finalised.
The department urges providers to inform the parents using their services of their insurance cover for 2020.
Notes to the Editor:
The Programme Support Payment (PSP)
Programme Support Payments (PSPs) were introduced by Minister Zappone in 2017. The payments recognise the additional time required of providers to complete the administrative work associated with DCYA-funded early learning and care and school age childcare programmes. The payment also recognises the time required to perform activities outside of contact time with children, such as preparing materials for early learning and care sessions and assisting parents.
Whilst PSPs are paid annually, from a €19.4 million PSP budget in 2019, additional payments have been made on three occasions to date to reflect particularly challenging periods for providers. These additional payments are once off. They include a payment of €3.5 million in December 2017 to recognise the work associated with the September 2017 measures when a significant number of additional families benefited from new and enhanced schemes, €2 million in October 2019 to recognise the work associated with preparing for the introduction of the National Childcare Scheme, and in December 2019, to reflect the significant time that was required to meet regulatory requirements in late 2019.