Zurich’s risky initiative
Andrew McKee
Zurich Financial Services has teamed up with blue-Group Underwriters and Managers (blue-GUM) to enter the group risk insurance market.
Commenting on the initiative, Zurich head of life risk Andrew McKee said there has been demand for a group risk service package from financial advisers for some time.
“We expect the group risk market in Australia to continue its current high level of growth, especially given recent legislation changes, such as the abolishment of RBLs [reasonable benefit limits] on death and total permanent disability benefits in super and the removal of restrictions on the deductibility of disability benefit premiums and compulsory minimum death benefits in super,” he said.
Zurich expects its group risk package will primarily appeal to companies with 50 or more employees and investment and superannuation platforms that are seeking administration support for their distribution.
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