Equity Insurance is aligning its UK expatriate policy with that used by its parent company in Australia around issues such as benefits.
The policy, likely to be finalised early next year, will make it easier to transfer staff from Insurance Australia Group to the UK to work. Australian expatriates are currently dealt with individually, but the new policy will seek to clarify their entitlements around benefits such as living allowance, company car, private medical insurance (PMI), housing and schooling for children. Equity Insurance is also seeking to include Australian staff in its flexible benefits plan.
Ricky D’Ash, remuneration specialist at Equity Insurance, said: “It is really about looking at an employee’s standard of living, where they are coming from and going to. Do they need the same sort of compensation? Do they need the same sort of benefits? Are they getting PMI in their country, and would we offer this sort of benefit in their country at their level? The chances are we would. If there are children involved, then a pre-visit [before someone accepts the post] might be necessary to look at things like schools.”
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