Boost to paternity pay for Covéa dads

26th February 2020

Covéa Insurance is delighted to announce it is enhancing its paternity pay and will start offering six weeks fully paid leave for dads of new babies born after 1 February 2020.  The company believes this will enhance its ability to attract and retain talented people and help promote workplace inclusion.

Speaking about the newly introduced benefit, Covéa Insurance People Director, Lisa Meigh comments:

We know that many dads want to take time off to be involved with caring for their new-born babies, but that family finances can put pressure on the length of time they take.  By increasing paternity leave to six weeks’ full pay, new dads working at Covéa Insurance will be able to focus fully on their new baby and partner during the crucial first stage of their child’s life.

This change promotes workplace equality by aligning company’s paternity leave with the first six weeks of its maternity policy and has been greeted positively by both mums and dads in the business. 

Expectant Covéa dad, James Tucker, said “It was an amazing feeling finding out that Covéa will now offer six weeks full pay for new dads; this will allow me to fully enjoy the early stages of my baby’s life without having to worry about the financial pressure of returning to work quickly to support my new family.”

Covéa Insurance prides itself on being a great place to work.  The company believes this progressive change demonstrates its values as a flexible, family-friendly employer and is in keeping with the company’s broader strategic vision to use its positive workplace culture to attract, recruit and retain talented people who will help drive its ambitious growth plans.

Meigh concludes:  “I believe this change sends a really strong message; it says we want to support our employees on whom our future growth and success relies, and is a major step forward in promoting workplace and parenting equality.”

Covéa Insurance is one of the insurance companies that has pledged support to the ABI’s voluntary commitment to make information about parental policies and pay more transparent by publishing details of them on its website. This will enable families to make informed decisions about work and how they can balance that with being a parent.

 

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About Covéa Insurance

Covea Insurance Plc is the UK underwriting business of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France, generating over 17.4 billion Euros in premiums in 2019.  

Covéa Insurance looks after the insurance needs of over 2 million policyholders; delivering financial reassurance through its Standard & Poor’s ‘AA- stable’ rating, as a guaranteed subsidiary of Covéa. 

The company offers motor, household, protection, pet, mid and high net worth insurance and a range of commercial insurance products, through a range of distribution channels.

Employing over 1900 people, Covéa Insurance has a strong people and service ethos.  It holds ServiceMark accreditation with Distinction for its Personal Lines operation and its Commercial & HNW Claims teams, as well as Chartered Insurer status for its Commercial business.  Covéa Insurance is signatory to the HM Treasury Women in Finance Charter and the insurance Inclusivity Pledge and has been named one of the top 75 employers in West Yorkshire & the Humber.

Recently, Covéa Insurance has been named as the Best Place to Work in Digital (Large Organisations) at the Digital Technology Leaders Awards and as the Best Employer at the Yorkshire Financial Awards.  They were also recipients of the High Net Worth Product of the Year Award at the Insurance Times Awards, the Staff Empowerment Award at the Diversity & Inclusion in Insurance Awards, and the Diversity Award at the British Insurance Awards.

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