JustParent
JustParent offers the UK's first Parental Leave insurance, enabling businesses to provide enhanced parental leave pay without significant financial burdens, and helps attract and retain a diverse workforce.
Services
JustParent offers the UK's first Parental Leave insurance, designed to help businesses manage enhanced parental leave pay without overwhelming financial costs. The company provides coverage for various types of leave including maternity, paternity, adoption, and surrogacy leaves. Their policies cover 100% of the basic salary of employees on parental leave above an agreed excess, and can be customized for periods between 6-30 weeks for paternity leave and 12-30 weeks for maternity leave. They include provisions for premature birth leave for qualifying pregnancies and offer quarterly invoices to maintain seamless coverage.
Benefits for Businesses
By offering enhanced parental leave benefits through JustParent, UK businesses can attract and retain a diverse and talented workforce. The insurance allows businesses to offer better parental leave benefits without facing prohibitive financial costs. It aids in accurate budgeting for annual parental leave expenses, helping employers manage their finances more effectively. The policy requires businesses to inform JustParent of any new parental leave cases, even if within the excess.
Coverage and Exclusions
JustParent covers 100% of the basic salary of employees on parental leave above an agreed excess. The policy can be customized to cover paternity leave for 6-30 weeks and maternity leave for 12-30 weeks. It also encompasses adoption and surrogacy leave and includes coverage for premature birth leave in qualifying pregnancies. Coverage is limited to businesses with a minimum of 25 UK employees and excludes employees living outside the UK, contractors, key employees such as directors, and persons with significant control.
Partnership and Underwriting
The parental leave insurance policies offered by JustParent are underwritten by Apollo at Lloyd’s of London. This partnership ensures robust and reliable coverage for businesses opting into JustParent's offerings. JustParent operates as a trading style under Innovative Risk Labs Ltd, which is authorized and regulated by the Financial Conduct Authority.
Awards and Achievements
JustParent was recognized for its innovative solutions in the insurance sector by winning the Norton Rose Fulbright Insurathon in 2024. This accolade highlights the company's commitment to providing impactful and practical insurance solutions for businesses looking to enhance their parental leave offerings.