Income Protection

Welfare spending will be cut in a further £6.6bn savings package, the chancellor of the exchequer announced in the Autumn Statement today.

Carol Sergeant has suggested the proposed income replacement product will not be included in the first phase of the proposed simple products, the Income Protection Task Force (IPTF) has stated following a meeting with the review's chair.

Employers need advice on prevention of mental health issues to sit alongside group cover, a group risk industry body said at an Association of British Insurer (ABI) briefing this morning.

A steering group chaired by the Association of British Insurers (ABI) and the Treasury is currently drafting a report on under-protection.

Zurich will be investing significantly in technology next year as part of a strategy to serve the mass market more.

PROTECTION WATCH

An employer may terminate the contract of an ill worker receiving claiming protection insurance benefits, a tribunal ruling confirms.

The aging workforce is causing a tightening in insurer group terms, a group risk specialist has said.

Income protection needs to strip out the state benefits element if the product is to move upwards, a consultancy firm has stated.

The Income Protection Task Force has planned to launch a consumer charter as part of a three-point plan for income protection.