Group risk pay outs total £2.2bn in 2022: GRiD

Cancer most common reason

John Brazier
clock • 3 min read

A total of £2.21 billion was paid out on group risk claims during 2022, consistent with volumes paid out the previous year, according to figures from industry body Group Risk Development (GRiD).

Cancer was once again the most common reason for group claims, accounting for two thirds of group income protection claims (66%), over one in three group life claims (37%) and more than one quarter of group critical illness claims (27%). Covid-19 accounted for just 3.7% of group life claims, down from 11.7% in 2021, representing the seventh most common reason for a claim in 2022. Elsewhere, heart disease was the second-most common reason for group life claims, whereas mental illness and heart attack were the secondary reasons for group income protection and group critical illness, res...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Group Protection

Long-term sickness causing declining productivity at UK companies - research

Long-term sickness causing declining productivity at UK companies - research

Increase in healthcare benefit provision costs

Jaskeet Briah
clock 12 November 2024 • 2 min read
The myth of 100% productivity; a risk to wellbeing?

The myth of 100% productivity; a risk to wellbeing?

"We can't make everyone into robots"

Vanessa Sallows
clock 12 November 2024 • 4 min read
Employers placing ESG importance on employee benefit providers

Employers placing ESG importance on employee benefit providers

GRiD research shows

Jaskeet Briah
clock 05 November 2024 • 2 min read