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Income protection gaps: what employers and insurers can do

The decline of government welfare creates opportunities for governments, employers and private insurers to form partnerships to extend social protection, using fiscal incentives to attract new customers.

By Marlene Y. Satter | Updated on October 13, 2017
The decline of government welfare creates opportunities for governments, employers and private insurers to form partnerships to extend social protection. (Image: Shutterstock)

The vast income gap is wreaking havoc on Americans, and if left unchecked, will only get further out of hand. But a new study suggests that public/private partnerships can help reduce them.

The study, “Embracing the income protection gaps challenge: options and solutions” from Zurich Insurance Group and the University of Oxford, highlights the growing risk of income protection gaps (IPGs), which it defines as “the reduction in household income caused by the death or incapacitation of an adult wage earner on whom the household relies, taking all public and private sources of replacement income into account.”

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