13 April 2021.
“It’s great to see that group risk benefits have been made available to 150,625 more employees during 2020, bringing the total number covered to 13.3m. The fact that the market has seen growth over this extraordinarily difficult period underlines the value that employers are placing on being able to support their workforce via group risk benefits. This support is not only financial: emotional and practical help is also available on a daily basis alongside a group risk product and these services have come to the fore.
“All group risk protection benefits really have come into their own over 2020 and throughout the Covid-19 pandemic. Not only has the entire industry reconfigured to working from home, but it’s been ‘business as usual’ as the industry has worked closely with employers to pay claims promptly and ensure they are still able to provide these valuable benefits in a way that works for how they’ve had to adapt their businesses during the pandemic.”
Katharine Moxham, Spokesperson for GRiD
For further information please contact:
SMUK Marketing and PR
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Spokesperson for GRiD
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Notes for editors
Group Risk Development (GRiD) is the industry body for the group risk sector, promoting the value to UK businesses of providing financial protection for their staff, enhancing their wellbeing and improving employee engagement. Our membership includes insurers, reinsurers, intermediaries and those operating in (or with other interests in) the UK group risk market. Together this forms a collective wealth of experience built over many years. Under the chairmanship of Paul White (head of technical, Howden Employee Benefits & Wellbeing) GRiD aims to promote group risk through a collective voice to Government, policymakers, stakeholders and employers.
GRiD works with government departments and regulators involved in legislation and regulation affecting group risk benefits, and with other organisations involved in the benefits and financial protection arenas. GRiD also seeks to enhance the industry's standing by encouraging best practice and by participating in industry-wide initiatives such as the professional qualification in group risk managed jointly with the Chartered Insurance Institute.
GRiD’s media activity aims to generate a wider awareness and understanding of group risk products and their benefits for employers and employees.
GRiD's dedicated spokesperson, Katharine Moxham, provides expert media comment on a full range of group risk issues.
Follow Katharine Moxham on Twitter @KMoxham