03 April 2019 
Emma Keenan, Procurement Specialist
UMAL, the UK’s leading provider of cover and Risk Management services to the higher education sector, has announced a 10% 3-year loyalty discount for its members.
“It’s a tough time for HE finances, and recognising this we are keen to help our members in any way we can,” says Paul Cusition, UMAL’s CEO. Nearly 25% of English universities were in deficit in 2017-18, according to the Higher Education Statistics Agency.
UMAL will be giving member universities and colleges who commit to a three-year agreement 10% off their contributions. If a members’ exposure goes up or down – it is calculated against turnover, wages and assets – rates will not change and the discount will move with it. UMAL also guarantees not to walk away from a member, however large their claims, during the period.
Speaking at UMAL’s Annual Members Conference on 26 March, Paul Cusition said, “This new discount runs alongside a number of other benefits that we are announcing today,”, “including a 5% rebate on Terrorism contributions and 7% on all others. This academic year we will return almost £3 million to our members, thanks to lower claims activity, an effective Investment strategy and cost containment”.
Also announced were new cyber response and oil spill response services, a joint venture with Portakabin on emergency space, an optional ’New for Old’ extension on computer equipment and an optional increase in Property cover to £500m per member. Mindful of the rapid growth in overseas placements, UMAL is also expanding its travel risk management service through specialists Drum Cussac, helping their members to discharge their duty of care to students and academics abroad by offering People tracking and enhanced travel risk assessment. This is part of a wider drive to provide value and service through a soon-to-be launched ‘MyUmal’ web portal.
As UMAL is owned directly by its member universities and HE businesses, it has no shareholders to pay. “Through our mutual structure, we provide the HE sector with a dedicated, effective and sustainable alternative to conventional business insurance,” he concludes.
For more information please contact:
Paul Cusition, UMAL: Paul.Cusition@umal.co.uk 0207 847 8670 ; or
Charles Macdowell, Land Communication: Charles@landcom.co.uk 01473 353613
