BareRock Introduces Counselling Support for its Club Members Facing High-Stress Complaint Situations
- Industry-first initiative aligns with FCA’s vulnerable customers guidance and provides mental health support to owners of advice firms, senior leaders and employees
- Up to 10 counselling sessions paid for by the pioneering PII provider at no extra cost
BareRock, a leading provider of Professional Indemnity Insurance (PII) for financial intermediaries, today announced the launch of a groundbreaking counselling and wellbeing support initiative for its Club Members. The program aims to support the mental health and wellbeing of individuals within BareRock’s Member firms who are dealing with the strain of high-stress complaint situations, by covering the costs of professional counselling.
Under the new initiative, BareRock will fund up to 10 one-hour counselling sessions per claim, subject to a £2,000 cap, with no policy excess payable by the Member firm. This support is designed to help business owners, senior leaders, and employees who often find themselves directly involved in managing complex complaints while juggling multiple responsibilities in highly regulated businesses. This industry-first has been built into the BareRock offering at no extra cost to its Members.
Jonathan Newell, CEO and Founder of BareRock, stated, “At BareRock, we are constantly seeking ways to enhance our offering and provide meaningful value to our Club Members where it’s needed most. This mental health and wellbeing support initiative not only resonates with our team personally but also supports the FCA’s vulnerable customers guidance. By offering compassionate support on a human level, in addition to technical and strategic assistance during complaint situations, we can help our Members better manage the emotional and mental toll of dealing with stressful claims.”
The initiative recognises the unique challenges faced by businesses in the financial services sector, where the responsibility of handling complex complaints often falls on business owners or senior leaders. By providing access to counselling services, BareRock aims to support the mental wellbeing of these individuals, enabling them to navigate high-stress situations more effectively and maintain the smooth operation of their businesses and personal lives.
Johnny Harrison, Director at Corporate Personal Wellbeing, emphasised the importance of mental health support in the workplace: “Dealing with complex complaints and high-stress claim situations can take a significant toll on an individual’s mental wellbeing. By offering counselling support, BareRock is demonstrating their commitment to the overall health and success of their policyholders. This initiative is a testament to BareRock’s dedication to providing comprehensive support that goes beyond traditional insurance offerings.”
The counselling support initiative is being rolled out by BareRock during Q4 of 2024 to both existing and new Member firms. To complement the service, BareRock and Corporate Personal Wellbeing (CPW) are collaborating on the delivery of this initiative. CPW specialise in workplace counselling. Their experienced UK-based team of counsellors offer guaranteed response within 24 hours. BareRock aims to leverage CPW’s skills and resources for the benefit of its Member firms.