Keep up with what has been happening this week in our latest insurance news round-up…

Insurers must support mental health issues caused by Covid-19 pandemic

An Insurance Analyst at GlobalData has said that insurers need to consider the ‘fluctuating tisk environment created by the pandemic; especially as mental health is not typically covered in standard policies’. This was said after a poll showed that 27% of respondents want to go back to work full time; whilst 46% want a mix of home and office working.

Lloyd’s of London’s new programme will help insurance innovation

Lloyd’s of London have revealed that their new “Response to COVID-19” programme will help the insurance sector create coronavirus related innovations to the marketplace as quickly as possible during these uncertain times.

Spike in Zurich UK’s life insurance payments

In the first half of 2020, Zurich UK has paid over £154.2m in life insurance claims to support over 3,200 customers with life insurance policies. Some of these claims include those affect by the coronavirus pandemic, where Covid-19 related payments were over £4.5m.

Steelworkers could enjoy pensions boost

Pension Insurance Corporation, a pension investment firm, is negotiating a deal to fund a buyout of the £2bn Old British Steel Pension Scheme. The Scheme has over 30,000 members, which could result in many pensioners receiving higher benefits, if the deal is finalised.

Amazon to create 7,000 new jobs

Amidst the job market losses caused by the coronavirus pandemic; Amazon have said that they will create a further 7,000 permanent jobs in 2020; meaning that they have had 10,000 new hires in total in 2020.

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