Press release 4 January 2019.

Following the launch of the Single Financial Guidance Body, Katharine Moxham, spokesperson for GRiD comments:

"The new Single Financial Guidance Body (SFGB)* has a huge role to play in encouraging consumers to better prepare for income shocks, and GRiD will be working to support this. Employers are well-placed to help with this too by providing affordable and accessible protection insurance for their people via group risk products (employer-sponsored life assurance, income protection and critical illness benefits).

"There is consistent messaging coming through from Government that employers are expected to play a greater part in better supporting their workforce, as outlined in the Government’s Improving Lives roadmap, the Taylor Review, the Stevenson/Farmer Review and the latest policy paper launched by the Department of Health & Social Care, ‘Prevention is better than cure: Our vision to help you live well for longer’.

“The requirement to outline sick pay from date of hire as announced in the Government's ‘Good Work Plan’ recently is also particularly pertinent and employers with group risk protection products in place will be better placed to rise to the challenge of helping to improve the nation's financial resilience."

• Ends -

*https://www.singlefinancialguidancebody.org.uk/

For further information please contact:

Sharon Mason 
SMUK Marketing and PR
smason@smuk.org.uk 
Mob: 07747 611773
Land: 01252 843350

Katharine Moxham
Spokesperson for GRiD
Katharine.moxham@grouprisk.org.uk
Mob: 07887 512508

Notes for editors

About GRiD

Group Risk Development (GRiD) is the industry body for the group risk protection sector, promoting the value to UK businesses of providing financial protection for their staff, enhancing their wellbeing and improving employee engagement. Our membership includes insurers, reinsurers and intermediaries who have a collective wealth of experience built over years of operating in the group risk protection market. Under the chairmanship of Steve Bridger (MD Group Protection, Corporate, Aviva UK Insurance) GRiD aims to promote group risk through a collective voice to Government, policymakers, stakeholders and employers.

GRiD works with government departments and regulators involved in legislation and regulation affecting group risk benefits, and with other organisations involved in the benefits and financial protection arenas. GRiD also seeks to enhance the industry's standing by encouraging best practice and by participating in industry-wide initiatives such as the professional qualification in group risk managed jointly with the Chartered Insurance Institute.

GRiD’s media activity aims to generate a wider awareness and understanding of group risk products and their benefits for employers and employees.

GRiD's dedicated spokesperson, Katharine Moxham, provides expert media comment on a full range of group risk issues.

www.grouprisk.org.uk

Follow Katharine Moxham on Twitter @KMoxham