Press release 1 May 2019.
- UK Group Risk industry paid out a new high of £1.68bn in claims in 2018, a £64.5m increase on 2017, and equivalent to £4.61m a day
- 5,595 people were helped back to work after a period of sick leave
- 75,446 interactions with the additional help and support services that are funded by Group Risk insurers
- Cancer was the main cause of claim across all Group Risk products
- Mental illness was a top cause of claim under Group Income Protection
Once again, the group risk industry provided financial support to a record number of families during 2018. Industry data compiled and published today by Group Risk Development (GRiD) shows that a total of over £1.68bn was paid out by the group risk industry during 2018, a £64.5 million increase on 2017. More UK families than ever (26,505) were helped to avoid financial hardship after the death, illness, accident or disability of a loved one.
As well as making financial payments, group risk insurers help people in many other ways. David’s, Zoe’s and Will’s stories below give just a few examples of how group risk policies also provide practical support for people. A total of 5,595 people were helped back to work after a period of sick leave and there were a total of 75,466 interactions during 2018 with the additional help and support services that are funded by group risk insurers.
To see the full release and tables download the document available here.