Chain of Stem academies in Munster closes after 12-fold insurance hike

Premium of €30,000 requested despite Covid restrictions compromising the East Cork business

The STEM academies across Cork and Waterford have been forced to close due to exorbitant insurance costs.

A Cork teacher and entrepreneur who opened seven STEM academies across Cork and Waterford has been forced to close his doors following a 12-fold increase in his insurance premium.

Maurice Healy, from Youghal, says he could not afford a quote of more than €30,000 regardless of Covid restrictions also compromising business.

Maurice opened his initial East Cork STEM (Science, Technology, Engineering and Maths) Academy in his home town in September 2019.

The after-school tutorials operated through engineer Lego kits, aligned with computer technology, to create automated models and real-world challenges.

Classes for ages three to 18, including those with additional needs, was Ireland’s third such independent STEM academy and Munster’s first.

Maurice expanded his enterprise into Midleton, Carrigaline, Cork city, Fermoy, Dungarvan, and Lismore, with 15 staff covering 150 enrolments.

The subsequent pandemic drained cash reserves through refunds, rent, protective equipment and so on but Maurice believes the academies would have survived were it not for the “huge increase” in public liability insurance.

“In the middle of the pandemic, despite being closed much of the time and with capacity reduced to 25%, the premium was doubled," he said.

The despite never lodging any claim, the next year came that massive increase. The only explanation given was that we were a “high risk".

Maurice doesn’t know if the risk is Covid-related but either way argues that his students were seated and socially distanced, amidst strong anti-virus practices that included top standard Hepa filters.

Mauric Healy: Forced to close his STEM academies across Munster.

He said he thinks the increase may be linked to the children’s age profiles.

“We’ve also been very successfully running Target Maths Academy, a grinds service in Maths, Biology and Geography that we are now expanding in Youghal and Midleton," he said.

The age profile is 12-18 and the insurance is around €500. Perhaps insurers have a problem with younger children, which may raise worries for other services too.

Globally, STEM proficiency is widely deemed essential in meeting the highly competitive demands of enterprise. It is embedded within the US education system and is increasingly prevalent in the private sector across Europe.

“Unfortunately Irish children and therefore Ireland face losing out on a vital sphere of education that I feel the State is not adequately promoting”, Maurice concludes.

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