 BUPA Bikers to become healthy, eco-friendly ... targets?: Most businesses hope that they show a public image which is green and environmentally sound. What could look better than having staff members arriving at work on bicycles? A whole rack of bikes locked up outside the headquarters is going to imply your staff are healthy, fit and above all, green.
Bupa have jumped on this particular bandwagon and encouraged their staff to buy new bikes via a scheme run by Grass Roots. All 6,000 of their staff have been given the opportunity to purchase bikes at a discount of between 31% and 41%. The salary sacrifice scheme means that the staff members can pay off a bike valued at between £250 and £1000 over the course of the year. In return they receive tax benefits lowering the cost of the bike.
Julia Clay, Bupa's group reward manager, points out that they hope to encourage staff to get fit and reduce their carbon footprint. She also hoped that the scheme would fit in well with Bupa's profile.
We hope that Bupa won't mind all the extra claims they can expect when these bikes are inevitably stolen, as recent research has shown that it is just a matter of time before an unattended bike will be stolen in major cities around the country.
More Than Insurance carried out the experiment in which they left bicycles unlocked and unattended around various cities in the UK. They found that on average a bike will be stolen within 2 hours and in London that time was just 17 minutes. More bikes are stolen in June than at any other time of the year.
It is estimated that a bike is stolen every 105 seconds in the UK making 300,000 per year. Of those, just 5% are recovered and returned to their owners. It is also estimated that bike thefts cost the insurance industry £62m per year.
Peter Markey from More Than said that the experiment was designed to highlight the growing problem of bike theft and to show that securing your bike is important. Although even the strongest of bike locks will not deter a determined thief.
Bicycles are usually covered on household insurance policies, but specialist insurance products are also available. A recent one offered by ilovemybike.co.uk actually includes a breakdown service similar to those run by the RAC and the AA. It will usually cost £34 per year but the insurer is offering it as part of their comprehensive insurance package.
A spokesperson from the Environmental Transport Association welcomes the policy and says that car drivers have been offered breakdown cover with their insurance policies for years and it is about time cyclists got the same treatment.
The cover also includes paying for a taxi to get home if your bike is stolen - which we have already shown is likely.
So, has Bupa made sure that their staff have these types of insurances in place? †
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NCD News: Employees get bikes, bike theft is up - curious job perk! - 24.09.09
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