GRID

Government and the protection industry must seize this window of opportunity if the welfare reform agenda is to succeed, a Group Risk Development (Grid) roundtable has concluded.

As stress takes its toll, 33% of public sector employers said their average employee takes more than five days off sick per year, compared to 15.9% in the private sector.

NEST (the National Employment Savings Trust) could open the door to expansion of the group life market, according to new research.

Advisers could be on the hook for millions of pounds in uninsured losses if they fail to act on the imminent A-day deadline, according to a specialist group risk intermediary.

Grid has added its voice to the warning that many businesses are not prepared for the upcoming ‘A-day' deadline for group life schemes.

Only 16% of employers have failed to at least maintain the value of their employee benefits package through the recession, according to industry body Group Risk Development (GRiD).

The group risk industry should be smiling broadly not merely breathing a sigh of relief following the confirmation of an exception from retirement age legislation, said Swiss Re.

Employers are increasingly concerned about the potential impact of the government's review of sickness benefits, according to new research.

Trade body Group Risk Development (Grid) is to submit a last minute submission to the Government in an attempt to get insurers and employers an exemption from retirement age legislation pertaining to protection products.

Protection is unlikely to join the national employment savings trust (NEST) project following a meeting between Government representatives and counterparts from the group risk industry.