Press release strictly embargoed until 7 May 2020 at 00.01.
- UK Group Risk industry paid out a record £1.76bn in claims in 2019, equivalent to £4.82m a day
- 5,248 people were helped back to work after a period of sick leave
- 74,707 interactions with the additional help and support services funded by Group Risk insurers
- Cancer: main cause of claim across all Group Risk products
Industry data compiled and published today by Group Risk Development (GRiD) shows that once again, employers utilised group risk protection to provide financial support to a huge number of employees and their families during 2019. A total of £1.76bn was paid out by the group risk industry during 2019, an increase of £75 million over 2018. Thousands of UK employees and families (26,433) were helped to avoid financial hardship during the worst of times for them - after the death, illness or disability of a loved one.
Group risk insurers help people in many practical ways as well as making financial payments as illustrated by Phil’s and Sue’s stories below. In total 5,248 employees were helped back to work after a period of sick leave and there were 74,707 interactions during 2019 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.