Building Resilient Households: Low financially resilient households report published today by the Chartered Insurance Institute

The CII has today launched a new report from the Building Resilient Households Group (BRHG) – a body supported by the CII Group . The report is based on qualitative and desk-based research and explores the problem of low financial resilience amongst UK households of working age. It details some main themes emerging from the interviews and makes recommendations as follows:

  • The establishment of an independent Commission on Household Financial Security, following a similar model to the Pensions Commission – TOR to include assessment of the current and likely future state of household financial security in the UK, making recommendations about how improvement can be brought about and, in doing so, consulting widely and producing a final report within two years.
  • Businesses should include details of employee benefits such as sickness & maternity pay in their annual reports – including how different groups of employees are treated.
  • Regulation 66 of the Universal Credit Regulations to be amended to allow renters to insure against their inability to pay rent in the same way that is already available to mortgage holders, without deductions from UC being made.

To view the full report, please download the document available here.