Commenting on Group Watch 2019, Swiss Re’s latest annual report analysing the group risk market, Katharine Moxham, spokesperson for Group Risk Development (GRiD) said: “We’re very pleased to see that 408,500 more employees are now enjoying the financial peace of mind that group risk protection benefits bring.
“As supporting the health and wellbeing of staff, and, in particular, mental wellbeing, moves up the workplace agenda, employers are increasingly looking for help in how to do this, and a lot of the answers can be found in group risk protection products. The inherent support services that come with them significantly extend the reach of the help employers can give to their people.
“It is disappointing, however, that employers say that uncertainty around Brexit is holding them back from implementing group risk protection products. Workers still need a means of protecting their household’s financial position against unexpected death, disability, injury or illness, regardless of politics. We would urge employers to look at what’s going on alongside Brexit negotiations, where increasingly, Government is looking to employers to help meet its ambitions for a healthy and inclusive workforce, and those employers that utilise the benefits within group risk are in a much better position to meet Government’s expectations around ‘good work’, especially for mental health.”