Western Provident Association is freezing the premiums on its enterprise flexible benefits scheme aimed at small, corporate, PMI customers.
The scheme caters to employers with between three to 100 staff. Customers who were underwritten when they joined WPA have had their premiums frozen. This discount has now been extended to six years at 30 per cent from five years at 25 per cent. WPA insures around 10,000 small firms.
It is also including free access to employee assistance helplines. It hopes this will help employers and employees deal with the issue of work-related stress.
Laing and Buisson says corporate PMI inflation in 2002 was at least 5.9 per cent. WPA claims its premium increases in the scheme have averaged 5 per cent over the past three years.
WPA director of corporate clients Adrian Humphreys says: “Customers who join WPA on continued personal medical exclusions underwriting terms are a poorer risk and must expect to pay accordingly.
“For WPA, insurance is a partnership between our customers and ourselves. We must look after and protect the customers we work with.”