All Group risk articles – Page 7
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OpinionKatharine Moxham: Why group risk protection benefits tick all the boxes
Given that the government is drawing back, no one should be without a way to protect their own financial stability and that of their family, especially because according to the Office for National Statistics' (ONS’) Quarterly sector accounts, UK: October to December 2017, published in xx the UK household’s savings ...
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Case StudiesAssurant offers healthcare support as part of mental wellbeing strategy
Assurant is a global provider of risk management solutions, with 15,000 employees. Across Europe, Assurant has 1,300 employees, of which 1,100 are based in the UK. The organisation’s mental wellbeing strategy ensures that its employees have prompt access to healthcare and support and, importantly, is woven within its overall employee ...
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AnalysisThe role of group risk benefits in a mental wellbeing strategy
Need to knowMental health is often the number one reason for claims under group income protection.Many of these can be prevented through proactive and early intervention.Offered in conjunction with comprehensive early intervention services, EAPs can provide employees with access to the vital support they need.Mental wellbeing in the workplace is ...
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Article£1.6bn paid in group risk claims in 2017
Just over £1.6 billion was paid out by the group risk industry over 2017, showing a £120.5 million increase on payments made in 2016, according to research by industry body Group Risk Development (Grid).The research, which is based on claims data from Grid’s provider members, also found that 25,906 claims ...
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AnalysisWhat does a modern group risk strategy look like?
Group risk benefits, such as life insurance and income protection, have been around for close to 200 years. And, while their objective has not changed significantly, employers are now using them in a much more strategic way.Rather than provide group risk products simply as a perk or to match competitors, ...
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OpinionChris Morgan: Key themes for employers in 2018
Every year reinsurer Swiss Re publishes a report on the group protection market, Group watch. On the face of it, more interesting to industry insiders rather than employers, there are a couple of key themes which may be of interest to employers when considering future changes to their benefit programmes.Excepted ...
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ArticleDebbie Lovewell-Tuck: Measuring the value of group risk benefits
As our Group Risk Week, in association with Ellipse, draws to a close, it is time to reflect on some of the trends and issues currently shaping this area of the benefits market.The group risk industry is relatively mature compared to some areas of the benefits market. Yet, despite its ...
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Case StudiesJeremy Benn Associates offers group risk benefits to support staff health
Looking after the health and wellbeing of its 600 employees is a key focus for Jeremy Benn Associates, a firm of consulting civil engineers and scientists, focusing on flood risk management.Charlotte Parker, HR manager, explains: “One of the benefits we provide our staff is group income protection [provided by] Canada ...
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Article36% do not feel they are paid appropriately
More than a third (36%) of respondents believe they are not paid appropriately, according to research by the Chartered Institute of Personnel and Development (CIPD).Its UK working lives: the CIPD job quality index survey report 2018, which surveyed 350,000 employees, also found that 70% of respondents receive an employer pension ...
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Article12.5m people covered by group risk schemes in 2017
Nearly 12.5 million individuals were covered by group risk schemes at the end of 2017, according to research by Swiss Re.Its Group watch 2018 report, which is based on data collected from 16 product providers in the group risk market in the UK, 18 employee benefits consultancies and one independent ...
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ArticleEXCLUSIVE: FinTrU hosts health and wellbeing month to promote new benefits
EXCLUSIVE: Financial services outsourcing organisation FinTrU has held a health and wellbeing month in order to promote its new employee benefits package to its 234 Belfast-based staff.The health and wellbeing month, called Febulous Challenge, was held in February 2018 to help promote the group risk and health and wellbeing benefits ...
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ArticleEXCLUSIVE: 22% blame high employee absence rates on lack of health and wellbeing initiatives
EXCLUSIVE: More than one-fifth (22%) of employer respondents believe that their employee absence rates are higher than other organisations because they do not have health and wellbeing initiatives in place, according to research by Group Risk Development (Grid).Its survey of 500 UK employers, including 100 employers with more than 250 ...
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Article68% see increase in stress and mental health-related illnesses in the workplace
More than two-thirds (68%) of employer respondents have seen an increase in instances of stress and mental health-related illnesses in the workplace, according to research by Aon.Its Benefits and trends survey: January 2018, which surveyed 200 UK employers, also found that 41% of respondents are unaware of the implications of ...
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ArticleEXCLUSIVE: 21% of employers view group risk benefits as a selling point
EXCLUSIVE: More than one-fifth (21%) of employer respondents view group risk benefits as a selling point during recruitment interviews and employee reviews, according to research by Group Risk Development (Grid).Its survey of 500 HR decision makers in 500 UK organisations, also found that 26% of respondents make a point of ...
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Article36% say workplace pensions are the most valuable employee benefit
Just over a third (36%) of employer respondents say that workplace pensions are the most valued employee benefit, according to research by Hargreaves Lansdown.Its Workplace benefits: the employer view report, which surveyed 349 UK employers, also found that 15% who rank private medical insurance as the most valuable, while 12% ...
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Article43% want flexible working as part of their benefits package
More than two-fifths (43%) of employee respondents want access to flexible working arrangements as part of their employee benefits package, according to research by Hibob.Its Part two: powerful perks: what people really want report, which surveyed 501 UK employers and 4,001 UK employees, also found that 41% of employee respondents ...
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ArticleEmployers tax relief for life assurance and overseas pensions to be modernised
Autumn Budget 2107: The government has announced that tax relief for employer premiums paid into life assurance schemes or certain overseas pension schemes will be modernised.The changes, coming into effect from April 2019, will cover policies when an employee nominates an individual or registered charity to be their beneficiary.
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AnalysisGroup risk in numbers
Facts and figures relating to group risk.!function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script"),d=o[0],r=/^http:/.test(e.location)?"http:":"https:";if(/^\/{2}/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement("script");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,"infogram-async","https://e.infogram.com/js/dist/embed-loader-min.js");
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OpinionKatharine Moxham: Group risk providers go above and beyond claim payments
We all expect insurance policies to pay out when we need them and group income protection is no exception, but that is not all it does.Group risk benefits are mostly associated with catastrophic life events, such as illness, accidents, disability and death, but they can, and do, provide everyday help ...
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ArticleChris Morgan: The value of engaging employees in financial protection
The importance of communicating benefits effectively to employees is a long-established and core pillar of any reward strategy. Why invest heavily in providing great benefits if you do not tell your employees about them and, more importantly, how they can get the most from the benefits they have?Research conducted by ...