businesses > small & medium business > employee benefits > group risk consulting
Group Risk Consulting

When a new employee joins your company, is he or she insured against death or disability? If you discover an employee has no life or disability insurance, can you introduce them to a reliable consultant who can arrange instant cover through your group risk program?

Most superannuation funds offer a level of death or disability insurance. However, is it enough? Does your fund allow members to select a higher level of cover? Do your members know that group insurance has better terms and lower premiums than personal policies?

An increasing number of employers are checking the adequacy of an employee's life and disability cover. They are discovering that a well-designed group risk program will attract, reward and maintain key staff.

In addition to the benefits to the employee, the employer is relieved of the moral risk. How would you feel if an employee died and left inadequate assets to his or her dependants? It could happen once. You would never let it happen again.

Aon is at the forefront of providing advice to employers on the design, placement and administration of group life and disability plans.

• we know the group insurance market as well as, if not better than, anyone.
• we undertake regular formal reviews of all group insurers in Australia to ensure our clients have access to optimum terms and conditions.

Providing a well-designed group insurance program for your employees will differentiate you as an employer of choice. Many employees are underinsured and have not given much thought to how much insurance they need and choosing an insurer. You can provide a competitive policy with a complete advisory service by engaging Aon to make the arrangements.

Group life insurance should be arranged through the superannuation fund where it is not regarded as a fringe benefit.

Salary Continuance insurance can be taken out by the superannuation fund trustee or by the employer. There are arguments for and against.

Trauma insurance must be taken out by the employer.

Aon provides employers with administration and consulting services for:

• group salary continuance insurance
• trauma insurance
• claims management and handling
• international pooling
• insurer reviews
• management of insurance tenders
• insurance transfer management
• stewardship of insurance arrangements.

If you would like to know more about Group Risk Consulting, please contact Matthew Brown via e-mail: matthew.brown@aon.com.au or telephone: 61 (2) 9253 7248.