Aon urges employers to review GIP as state benefit reductions bite

As part of the Government's continuing programme of Welfare Reform, the Budget in July 2015 announced a significant reduction to the state benefit paid to a certain group of ill or disabled claimants, effective from April 2017. Unless specific action is taken, many employers will potentially be exposed to significant cost increases for their insured Group Income Protection policies. Matthew Lawrence, Chief Broking Officer, Health & Benefits UK and EMEA, Aon Employee Benefits said: "This issue is not new but many employers have still not taken positive action to review their insured Gr...