The return of redundancy cover – and why it's important

In the run-up to last year's election, we saw spikes in demand for redundancy cover from several different geographical and employment sectors. One of the most surprising was from high earners in the City of London, who were concerned about the potential impacts of a new government. Standalone unemployment insurance, also sometimes known as redundancy cover, is making a comeback. The product hasn't been readily available since the Covid pandemic when many insurers withdrew from the market due to the heightened risk exposure caused by widespread redundancies and job loss. Since then, s...