Why demand for unemployment insurance is soaring
Kesh Thukaram, co-founder, Best Insurance, discusses rising demand for unemployment insurance amid economic uncertainty, as well as the outlook for 2026 and beyond, and opportunities for advisers. Consumer anxiety around job security is rising. More people across the UK are becoming increasingly worried about potential layoffs and corporate restructuring, while others are continuing to struggle […]
Staff see what’s coming
Inquiries about unemployment cover more than doubled last year. The largest jump coincided with the November budget, prompting fears that the jobs market may continue to worsen. People working in IT and financial services were deemed most at risk of redundancy, according to the specialists Best Insurance. Its founder, Kesh Thukaram, said “Employees tend to […]
Workers rush to buy redundancy cover as Labour’s unemployment crisis deepens
Policyholders are typically covered for redundancy through accident, sickness and unemployment (ASU) insurance, a type of short-term income protection. These types of policies provide payments for up to one to two years. Most have exclusions, such as voluntary redundancy or dismissal for misconduct, and there is typically a waiting period before payments start. Broker Best […]
What do advisers need to know about unemployment cover?
For many people, their job is the anchor of financial stability. To lose it when mortgage rates are high, energy prices are climbing and household budgets are tightening, could be devastating, which is where unemployment insurance plays a vital role. Customer enquiries, and indeed claims, for this kind of cover have increased significantly over the […]
UK Services Sector Slows Down As Unemployment Peaks… Yet Again.
As per the latest figures released the Purchasing Managers Index (PMI) fell by 2 points from 53.3. in May 2012 to 51.3.The extra holidays over the jubilee weekend was quoted as one of the main reasons for the dip in the number. In terms of PMI, anything more than 50 should be considered as healthy […]