News – Page 4
-
Article29% of new group income protection claims in 2017 related to mental health issues
More than a quarter (29%) of new group income protection claims in 2017 were for mental health issues, according to research by Legal and General.The research, which is based on the group protection claims Legal and General paid in 2017, also found that the insurer has paid 2,614 group protection ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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% ...
-
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 ...
-
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.
-
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 ...
-
ArticleDebbie Lovewell-Tuck: Maximise 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.Group risk benefits will rarely be perceived as the most glamorous or fun element of a benefits package. ...
-
Article60% of critical illness claims in 2016 were for cancer
Under two-thirds (60%) of overall critical illness claims made in 2016 were for cancer, according to research by Aegon UK.Its analysis of critical illness claims received by Aegon UK in 2016 also found that 31% of cancer-related critical illness claims in 2016 were for breast cancer, compared to 31% in ...
-
Article38% plan to increase their employee benefits offering in 2017
More than a third (38%) of employer respondents plan to increase the number of options in their employee benefits package in 2017, according to research by Mattioli Woods.Its 2017 Employee benefits insight report, which surveyed 300 employers and gathered data from 2,692 UK organisations, also found that 21% of respondents ...
-
Article29% of group income protection claims are for cancer
Just under a third (29%) of group income protection claims are for cancer, according to data from provider Unum.Its annual claims statement, which analysed data relating to the 1,722 group income protection claims paid by Unum between 1 August 2016 and 31 July 2017, also found 17% of overall group ...
-
ArticleGreensill Capital launches new benefits package for UK staff
Financial services organisation Greensill Capital has launched a new package of benefits and online benefits platform for its 72 UK employees.Its online portal, Greensill Rewards, which was launched in August and is provided by Portus Consulting, provides staff with access to new employer-paid benefits, such as private medical insurance, a ...
-
ArticleCanada Life to acquire Retirement Advantage
The Canada Life Group (UK) has reached an agreement to acquire financial services provider Retirement Advantage.Retirement Advantage was formed in 2015 from the merger of the retirement income and equity release divisions of MGM Advantage and Stonehaven. The organisation has more than £2 billion of assets under management, including £1.5 ...
-
ArticleEnhanced income protection benefit offered to Metropolitan Police staff
Members of the Metropolitan Police Service can now access an enhanced income protection benefit which include access to personal nurse advisers.The nurse advisory service, provided by RedArc, was added to the income protection offering on 11 August 2017. This will enable eligible staff to access long-term practical help and emotional ...