Mandatory schemes could be the key to protecting people from economic distress caused by situations similar to the COVID-19 pandemic, according to research by Zurich Insurance and the University of Oxford.
A report, titled “Shaping a Brighter Future of Work”, suggested that governments consider mandatory provision of some types of income protection insurance, such as coverage for disabilities and unemployment. It also recommended the auto-enrolment of employees in plans, such as those that offer basic income protection, as well as participation in pension schemes.
“While some countries were hit harder by COVID-19 than others, people in every corner of the globe […]
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