Watson Wyatt warn on consequences for group IP from Welfare Reform Act
The implementation of the new Welfare Reform Act later this month could have far-reaching consequences for the future design of group income protection (GIP) benefit policies, warns a major consulting firm.
Jamie Winter, head of healthcare & risk consulting at Watson Wyatt said: “All existing GIP schemes make an assumed allowance for state incapacity benefit levels and this is hardwired into the GIPOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Personal
Q&A: Dan Fiehn, Markerstudy
Markerstudy chief technology officer Dan Fiehn explains how artificial intelligence-assisted code analysis has helped the insurer identify modernisation priorities and unlock value from legacy tech.
Which? asks if the FCA will finally deliver insurance reform
Rocio Concha, director of policy and advocacy, and chief economist at Which?, argues the regulator must move beyond dialogue and deliver urgent reform of the home and travel insurance industry.
Throwback Thursday: Shock Axa merger
Insurance Post’s Throwback Thursday steps back in time to November 1996 to remind you what was going on this week in insurance history when Axa merged with a rival to become the world’s second largest insurer.
Ombudsman backs consumers in over half of home insurance claims
Home insurers are facing fresh scrutiny after Which? research found the Financial Ombudsman Service ruled in favour of consumers over home insurers in more than half of complaints.
Is Admiral back on the acquisition trail with Policy Expert?
After completing the £80m acquisition of Flock earlier in the year, Scott McGee ponders what could come next for the Welsh insurer, with sources suggesting Policy Expert could be in its sights.
Co-op Southern merger widens insurance footprint
Co-op Insurance is set to expand its reach to a further 330,000 members, following the Co-operative Group’s acquisition of Southern Co-op.
Tesco taps into Clubcard data for insurance opportunities
Tesco is using insights from roughly 24 million Clubcard customers to identify gaps in the insurance market and launch new products.
Hastings Direct to bring in 500 new roles
Hastings Direct is set to recruit more than 500 new roles over the next 12 months, as part of plans to step up investment in people, technology and artificial intelligence.