A top organisation which represents insurance brokers in the UK is advising companies to take out private medical insurance cover for their employees. The British Insurance Broker’s Association (Biba) say that PMI could help keep a business healthy, as well as its staff. With many companies doing their best to keep going in the recession, it’s no wonder that more and more bosses are looking to take moves to benefit their business and a corporate private medical health insurance policy could be just one way of doing so. Peter Staddon, head of technical services at Biba, told ClickAJob: "It is a much better way of maintaining the health of your staff as well as your business and there are some brilliant schemes out there."


Biba say that there are a number of reasons to take out a corporate private medical insurance policy. Firstly, it’s important, especially for smaller businesses to control illness amongst their employees. Secondly, it helps staff to work to the best of their ability, inevitably increasing productivity because it may prevent them from worrying about any medical issues that they may have as much. Private medical insurance is a good way of putting someone’s mind at rest because top quality medical care is always available in a time and place suitable to the patient. Some bosses may see PMI as an added cost initially, but millions of pounds are lost every year by British businesses due to sickness so this could be one way of reducing cost in the long run by encouraging a healthier workforce. Figures released by the Association of British Insurers last month only confirm this, with the number of people taking out a private medical insurance policy in 2008 increasing, despite the UK heading into recession.