I’ve been using Twitter to watch the people in the Philippines recovering from Haiyan and thinking that this might be a good time to beef up and emphasize disaster-related employee benefits.
Insurers would probably traditionally think of disaster recovery benefits as a property-casualty line, but it seems as if, from the perspective of an ordinary worker, disaster recovery benefits would be a good complement to a group disability plan or an employee assistance plan (EAP).
Disaster recovery help for people who are alive and well is clearly not a life insurance event or a medical insurance event.
But losing the ability to work because of a storm or an earthquake is a lot like losing the ability to work because of a broken back or a heart attack.
One challenge is that the kinds of events that trigger disaster recovery benefits could lead to many, many claims, but the same could be true for an ordinary group disability or EAP program.