Actuarial Post - Group Risk industry supports record number of families

The Group Risk industry provided financial support to a record number of families during 2016. Industry data compiled and published today by Group Risk Development (GRiD) shows that a total of nearly £1.5bn was paid out by the Group Risk industry during 2016, a £100 million increase on 2015. This helped a total of 24,925 UK families maintain their household’s financial resilience after the death, illness, accident or disability of a breadwinner.

Group risk industry supports record number of families in 2016

UK Group Risk industry paid out £1.5bn in claims in 2016: a £100m increase on 2015, and equivalent to £4.1m a day
2,289 people were helped back to work with active early intervention support from an insurer
Cancer was the main cause of claim across all Group Risk products

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