Katharine Moxham, spokesperson for GRiD, the industry body for the group risk protection sector said: “Our workplaces are almost unrecognisable from the institutions they were at the start of the decade, including greater focus on how employers should contribute to supporting the health of the workforce.
“The last decade has seen great steps towards parity for mental and physical health and we now also have a much better awareness of how an individual’s mental state is often directly affected by their physical wellness.
“2020 will see Government’s expectations that employers take an active role in supporting the physical, mental, social and financial health of their employees gathering momentum – encouraging and coercing employers in rising to the challenge of making our workplaces ever more supportive and inclusive.”
- Improving financial resilience
The cross-industry Access to Insurance Working Group (which is now reporting into the Cabinet Office) has a priority to improve consumer access to protection insurance, particularly for those with long-term health conditions and disabilities, thus improving outcomes and financial resilience for the UK’s population.
The workplace is key to this aim. Group risk products (employer-sponsored life assurance, income protection and critical illness) are inclusive in nature and a generous level of cover can generally be offered to all employees, without the complicated and tedious need to submit medical evidence.
Through 2020 and beyond, the group risk market will be working with Government to make it easier for more employers (especially SMEs) to protect their people against the financial devastation that households experience following a loss of earnings as a result of death, disability, illness or accident.
Please click here to view the full article.