Group risk
Next to the pension, group risk benefits such as life assurance (a type of death-in-service benefit), group accident insurance, income protection (also known as permanent health insurance or PHI), and group critical illness are the backbone of the staff benefits package. These company perks protect and insure employees in the event of long-term illness or death. They can also be used to rehabilitate staff who are off work on long term sickness absence due to stress, an accident or other illness. Group risk benefits, especially critical illness and life insurance, can also be extended to employee family members as well as the employee.
Definitions of group risk benefits
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News
14 May Canada Life research: Auto-enrolment will offer business opportunities to advisers
24 Apr Swiss Re research: Group risk premiums rose by 2.9% in 2011
20 Apr Canada Life research: Most respondents feel unsupported by their employer
12 Apr Unum research: Finance directors do not always liase with HR on benefits
Analysis
Employee Benefits/Aviva Group risk roundtable
Leading experts and employers discuss issues and developments in group risk benefits
30 Apr Group risk roundtable: Sponsor's comment: Intervention is the key
30 Apr Group risk roundtable: Economic influences on stress
30 Apr Group risk roundtable: The effects of government reforms
30 Apr Group risk roundtable: Dealing with absence
30 Apr Group risk roundtable: Catering for an ageing workforce
Case Studies
Case study: Retaining insurer slashes price for Geotechnical Instruments
Not all cost savings achieved through rebroking involve switching insurer. An employer often stays put because its insurer offers to reduce its price once it realises the intermediary has come up with more competitive quotes.
07 Mar Thought leaders: Academic insights: Unemployment can harm your health
07 Mar Case study: Nationwide embraces age diversity
07 Mar Case study: University of Lincoln studies retirement age implications for benefits
Research
Swiss Re research: Group risk premiums rose by 2.9% in 2011
Group risk premiums rose by 2.9% in 2011, reversing the negative trend of the past two years, according to research by Swiss Re.
14 May Canada Life research: Auto-enrolment will offer business opportunities to advisers
20 Apr Canada Life research: Most respondents feel unsupported by their employer
12 Apr Unum research: Finance directors do not always liase with HR on benefits
11 Apr Grid research: More than a third of respondents yet to take action on removal of earnings cap
