All Group risk articles – Page 4
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Case Studies
Infographic: The impact of the pandemic on the group risk market
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ArticleWorkers demand more financial protection
Covid-19 (Coronavirus) has caused a surge in employee demand for greater employer-provided financial protection, according to a new study.AIG, which commissioned research among nearly 1,000 workers, found 37% said the pandemic had caused them to consider that life insurance, income protection or critical illness should now be offered by their ...
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ArticleEmployers embrace wellbeing benefits
Group risk industry body Grid has unveiled what it calls an “encouraging increase” in employer-provided wellbeing benefits provision in response to Covid-19 (Coronavirus).In a poll of HR directors, it found 48% now felt they had greater responsibility for the mental health of their staff than they did before the pandemic. ...
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OpinionKatharine Moxham: Group risk market does exactly what it says on the tin during Covid-19
Whoever says insurers do not pay out can not have come across the group risk industry, which is as ever rising to the challenge as these benefits, employer-sponsored life assurance, income protection and critical illness benefits, come into their own.Over the years, whatever the catastrophic event the group risk industry ...
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Analysis
Health and support: Group risk benefits in numbers
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AnalysisHow has Covid-19 impacted the group risk industry?
Need to know:The Covid-19 pandemic has led to an increase in claims on group income protection and life assurance policies.The group risk industry has seen significant growth in employers providing more group risk products for their employees.The pandemic is an opportunity for employers and employees to change the way that ...
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Case StudiesJohn Lewis recommunicates health insurance to staff during Covid-19
Throughout the Covid-19 (Coronavirus) pandemic, John Lewis has recommunicated its group risk insurance benefits to its 83,000 employees.The employer recommunicated its private medical insurance, life assurance, and financial assistance options to employees by utilising its in-house support phone helpline in March 2020 to support employees who were looking for more ...
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ArticleMorrisons wins appeal at Supreme Court over payroll data breach
Supermarket retailer Morrisons has won a Supreme Court appeal over whether it is liable for the criminal act of an employee who leaked payroll data of around 100,000 members of staff.Morrisons brought a Supreme Court challenge in an attempt to overturn a ruling which gave the go-ahead for compensation claims ...
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ArticleFinancial issues affect the mental wellbeing of 51% of millennial employees
Employers are concerned that over half (51%) of millennial employees have a high rate of stress and anxiety when it comes to finances and debt, according to new research by Group Risk Development (Grid).Respondents voiced concerns that money issues affect the health and wellbeing of their millennial employees, those aged ...
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AnalysisWhat role do group risk benefits play in reducing employee absence?
Need to know: Employers should check their group risk policy to see if they are able to access pre-existing support services as part of their insurance policy. Group risk insurance premiums will go down if an employer has a present, healthy workforce, encouraging organisations to look at ways of keeping ...
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Case StudiesGoodman Masson tackles employee absence with health and wellbeing strategy
Finance and technology recruitment organisation Goodman Masson has prevention and wellbeing at the forefront of its healthcare strategy. Alice Morton, head of people at Goodman Masson, says: “Despite the [organisation's] growth over the last few years, we have seen a decline in absenteeism. We spend so many hours at work, ...
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OpinionKatharine Moxham: Group risk benefits can encourage better health behaviours
The group risk industry has long understood the importance, not only of early interventions, but also of preventative measures and encouraging better health behaviours in the first place. That is why group risk products, such as employer-sponsored life assurance, income protection and critical illness benefits, are focused on so much ...
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Case StudiesThe benefits offered by Charles Tyrwhitt
The benefits offered by Charles Tyrwhitt:Pension and protection benefitsDefined contribution (DC) workplace pension scheme for all employees, offering enhanced matching employer contributions of 6% for managers and above.Group income protection offered to all staff on an employer-paid basis.Health and wellbeingPrivate medical insurance (PMI) provided on an employer-paid basis; this includes ...
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ArticleEXCLUSIVE: Virgin Atlantic reinvigorates benefits package for 10,000 employees
Employee Benefits Live 2019: International airline Virgin Atlantic has reinvigorated its wellbeing approach and employee benefits package to better reflect and accommodate its growing workforce.Josie Lazenby, senior manager, wellbeing and benefits at Virgin Atlantic, discussed the benefits refreshment journey during the conference programme at Employee Benefits Live 2019 on Tuesday ...
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ArticlePoll: 27% offer insurance benefits to support staff working with cancer
Employee Benefits poll: More than a quarter (27%) of Employee Benefits readers offer staff who are working with cancer insurance benefits, such as income protection or critical illness insurance.A straw poll of www.employeebenefits.co.uk readers, which received 26 responses, also found that 23% of respondents support staff experiencing cancer by providing ...
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ArticleTwo-fifths of employees with cancer value reduced or flexible hours
Approximately two-fifths (42%) of employees who have been diagnosed with cancer state that being offered reduced or flexible hours is one of the most valuable ways employers can help support them through treatment, according to research by Unum.The survey of 300 UK employees who have been diagnosed with cancer in ...
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Case StudiesThe benefits offered by TGI Friday’s
The benefits offered by TGI Friday’s:PensionsA defined contribution (DC) pension scheme via the National Employment Savings Trust (Nest): staff save 5% of their salary and TGI Friday’s contributes 3%.Managers and directors of operations can opt to save into a group personal pension (GPP), provided by Standard Life, which enables them ...
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ArticleEXCLUSIVE: The majority of organisations do not offer personal insurance benefits
EXCLUSIVE: Most organisations do not provide personal insurance benefits, and few plan to begin, according to research by Employee Benefits.The Benefits research 2019, which was published in May 2019 and canvassed the views of 290 HR decision-makers, also found that of those personal insurance benefits offered by employers, travel insurance ...
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ArticleEXCLUSIVE: Seven in 10 offer life assurance to all employees
EXCLUSIVE: Nearly seven in 10 (68%) employers offer life assurance to all employees as part of a core package, according to research by Employee Benefits.The Benefits research 2019 surveyed 290 HR decision-makers and was published in May 2019. It also found that, overall, 86% provide life assurance in some form; ...
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ArticleTwo-fifths used return-to-work support for mental health conditions in 2018
In 2018, almost two-fifths (39%) of employees made use of return-to-work support following time off for mental health conditions, such as stress and anxiety, according to research by employee benefits provider Unum.The Sickness absence and return to work trends report, which analysed access to Unum’s rehabilitation services in the UK ...