The Further Education sector is facing wholesale change, with the redefinition of the role and responsibilities of the LSC itself, and the implementation of the Agenda for Change. There is a greater emphasis on financial self-assessment for colleges and other providers which builds on the continuous drive to raise standards that has been in place for several years now. 

Risk management remains firmly in the spotlight – indeed, it features in both the Self Assessment Report (SAR) and questionnaire (SARQ).  It is clear to us that the approach to risk management has reached a level of maturity within the majority of colleges.  We also believe that much more can be done to achieve a just reward for the effort and resource committed to risk management within your sector. 

One of the key issues we see is the need to deliver evidence of the improvements in risk management achieved in your sector to the insurance market.  There is still doubt about the risks in the sector, in many cases because of the diversity of activity.  In our view, this shows that there is a clear gap between perception and reality but means the insurance market available to you will remain extremely limited unless this issue is addressed in the right way.

Risk2Value understands your sector and the risks you face.  We also recognise that the needs of individual colleges will vary and are able to provide effective and professional advice, to support your own in-house resource and expertise.  The services we offer can be accessed by clicking on the relevant topic.