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Cover Magazine - Group IP to 'remain as it would' for furloughed employees during coronavirus

By Adam Saville 6 April 2020.

Two major group risk providers have confirmed that employees furloughed, or put on reduced hours or pay, during the coronavirus pandemic will remain covered at their full level of benefit entitlement...

...Katharine Moxham, spokesperson for GRiD said: "I've seen a few confirmations to date that cover can continue at full benefit entitlement rather than based on furloughed salary level, provided a contract of employment remains in place, data is provided based on full salary and premiums continue to be paid on that basis."

She added: "The group risk industry is working hard to support businesses and employees during this time and is adapting to change as events unfold and government policy develops. As always, it's really important for employers to understand exactly the general stance their own particular insurer is taking so it's vital that they work together with their adviser and provider to arrive at a solution that suits their business."

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