News
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Article27% of employers do not record impact of sickness absence
Source: Bankrx/Shutterstock A third of employers do not record the impact of sickness absence, according to research by industry body Group Risk Development (Grid). Its research found that of the 69% of respondents that do record the impact of sickness absence, the most popular method was calculating ...
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Article40% offer physical health support to help staff stay in or return to work
Just two-fifths (40%) of employers offer staff support around their physical health to help them stay in or return to work, if they are injured or have a new illness or disability, according to research by industry body Group Risk Development (Grid). Its survey of 500 HR ...
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Article40% of UK staff would choose a job with lower salary but generous benefits
Two in five (40%) UK employees admitted they would choose a job with a lower salary but generous employee benefits, according to research from MetLife UK.When looking at financial benefits of a potential new job, the protection and employee benefits provider found that 37% of respondents said financial bonuses are ...
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Article30% offer support for serious illnesses
Just one-third (30%) of employers offer support for serious illnesses such as cancer to help their employees stay in or return to work, according to research by industry body Group Risk Development (Grid).Its survey of 500 HR decision-makers at UK businesses and 1,210 workers, which has been published to coincide ...
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Article19% regret not taking out a financial protection policy while caring for ill child
One in five (19%) UK parents admitted regretting not taking out a protection policy for financial support if they needed to take time off work to care for an ill child or children, according to new research from MetLife UK.The provider of protection, employee benefits and retirement solutions found that ...
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ArticleBuyer's guide to critical illness insurance
Nothing in life is certain, and being diagnosed with a critical illness such as a heart attack or cancer is a reality that many individuals have to face. Having access to critical illness insurance cover provided by their employer helps to alleviate some of the financial worry ...
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Article30% cite affordability as a challenge to support staff health and wellbeing
Affordability was cited as the biggest challenge in supporting the health and wellbeing of staff by 30% of employers, according to new research from Group Risk Development (Grid).The industry body for the group risk sector’s research was carried out among 503 UK HR decision-makers. It found that 45% of employers ...
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ArticleVirtual GP services are most used benefit offered to ill and injured employees
Employee Benefits poll: The most used benefit or support organisations offer to ill and injured employees is access to a virtual GP service (42%), according to a survey of Employee Benefits readers.Just above one-third (37%) said they provide an occupational sick pay scheme to support ill and injured employees, while ...
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Article12% of employers do not offer support for ill and injured staff
Just one in 10 (12%) employers do not have support mechanisms in place for newly injured or ill employees because they either cannot afford it or they do not feel it is their responsibility, according to research by industry body Group Risk Development (Grid).Its study of 503 HR decision-makers working ...
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ArticleTwo-thirds do not receive group risk insurances as paid-for benefits
More than two-thirds of UK employees do not receive critical illness, income protection or dental insurance as a paid-for benefit, according to new research from Barnett Waddingham.The employment consultancy’s survey of 3,006 UK employees found that almost three-quarters (72%) are not given the option of critical illness insurance, while just ...
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ArticleUK group risk industry paid £2.21 billion in claims in 2022
The UK group risk industry paid out £2.21 billion in claims in 2022, equivalent to £6.05 million per day, according to data published by Group Risk Development (Grid). There were 261,631 interactions during 2022, with additional help and support services from group risk insurers, with 27% receiving access to counselling, ...
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ArticlePam Group launches enhanced reward package
Occupational health and wellbeing firm Pam Group has introduced a range of employee benefits and rewards for its 700 employees as part of its recruitment and retention strategy.The improved package includes an employer funded group income protection scheme, through which staff on sick leave will receive 60% of their annual ...
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ArticleOnly 15% of employees have their own income protection
Just 15% of working adults have their own income protection (IP) policy in place, while 12% have IP provided by their employer, according to research by protection specialist LV=.To mark Income Protection Awareness Week (17-21 October), LV= surveyed 4,000 UK adults to explore their attitudes to IP. The research also ...
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ArticleOnly 22% of employers target benefits to specific demographics
Less than a quarter (22%) of employers target benefits to specific demographics in their workforce like age, lifestyle and risk factors, according to research by Towergate Health and Protection.The survey of 500 HR decision makers found that 57% offered the same benefits to all staff, and 18% differentiated their benefits ...
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ArticleGroup critical illness cover claims for 2021 reach £13.2 million
Group critical illness cover claims nearly doubled from £7.2 million in 2020 to £13.2 million last year, according to new research.Figures released by financial services firm Legal and General highlight that it paid just over£335 million in group protection claims, including life assurance, income protection and critical illness, in 2021, ...
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ArticleGroup risk industry paid out £2.22 billion during 2021
A total of £2.22 billion was paid out by the group risk industry during 2021, which is an increase of £208.4 million on 2020, according to data compiled by Group Risk Development (Grid).In total, 6,113 employees were helped back to work after a period of sick leave. There were 220,886 ...
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ArticleIn-force group risk policies up 4% in 2021
New research has revealed that the number of in-force group risk policies increased by 4%, from 81,055 in 2020 to 84,369 in 2021.According to reinsurance firm Swiss Re’s Group watch 2022 report, the number of people insured rose from 13.3 million by the end of 2020 to 14.1 million by ...
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ArticleEXCLUSIVE: 80% rise in worker Covid death pay outs
The amount of money paid to dependents of employees who died with Covid-19 (Coronavirus) soared in 2021, research has revealed.Data collected by reinsurer Gen Re showed an 80% increase last year in the value of group life assurance pay-outs involving Covid-19 on a death certificate or claim form.The figures, sourced ...
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ArticleMore death benefits paid in first half of 2021 than all of 2020
Research has revealed that dependants of employees with insured employer-sponsored death benefits have received more financial payouts due to Covid-19 (Coronavirus) in the first half of 2021 than the whole of 2020.Group Risk Development (Grid), the industry body for the group risk sector, also found that nearly 10 million UK ...
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Article20% of employers offer no support for ill staff
New research has revealed that one in five employers do not offer any form of support for newly injured, ill or disabled staff.Research undertaken on behalf of Group Risk Development (Grid), the industry body for the group risk protection sector found that of the four in five who do offer ...