Health and protection insurers produced the equivalent of £6.1 billion a year in benefits for UK businesses and the wider economy by reducing the number of days employees needed to take as sick leave in 2021, according to new research from the Association of British Insurers (ABI).
Its Futureproofing Workplace Health research, carried out by WPI Economics, found these benefits were split across businesses (£2.6bn), the wider economy (£2bn), and the Exchequer (£1.5bn), showing that health and protection insurance is boosting the UK's productivity and economic growth, according to the ABI. With the number of people out of work due to long-term sickness at a record high, the ABI said the research demonstrates how insurance services support people to stay healthy and in work, including preventing 14 million sick days in 2021 and helping 12,500 full-time workers stay in...
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