Gen Re backs state community rated IP product

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Gen Re has backed a community rated income protection (IP) product to compliment state benefits and called on the industry to add its support to the proposal.

It also urged protection providers and fellow re-insurers to see the bigger picture in the initiative's long-term potential after warning there could be costs in the short-term. Speaking at its Disability Dynamics conference, Robert Kerr, senior account executive at Gen Re UK and Ireland, confirmed it is a viable opportunity. "Its early days but there is a huge opportunity," he said. "Its never going to be put into the National Employment Savings Trust (NEST) because they've got enough problems delivering that now without actually putting something else in, but if there was somethi...

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