FAMILY HOLIDAY? DON’T FORGET TO PACK GRANDMA!

4M GRANDPARENTS SET TO ACT AS HOLIDAY ‘NANNIES’ THIS SUMMER

One third of the UK’s grandparents will be tagging along on family trips this summer, marking a resurgence of ‘three-generational’ holidaying, new research reveals¹ today.

The RIAS ‘Summer Holiday Helpers’ study highlights that a third (30%) of grandparents, equivalent to 3.75 million grandmas and grandads across the UK, say they regularly holiday with their children and their grandchildren for the sole purpose of providing childcare assistance².

These holiday ‘nannies’ are the sign of a growing trend that sees families holidaying in larger groups, increasing the amount of quality family time they spend together, but also to help parents take a well-earned break themselves, sharing the childcare responsibilities.

Janet Connor, Managing Director at RIAS, comments: “Our ‘Summer Holiday Helpers’ study shows that the extended family holiday is enjoying a comeback and that grandparents really are at the heart of many families. As working hours get longer and the impact of previous years’ economic turmoil hangs over us, it looks as though parents are relying on grandparents more than ever before, especially over the long summer holiday break. We expect the trend to grow as families look to make the most of their free time together, and the spare pairs of hands that grandparents provide are certainly a welcome support.”

Grandma’s ‘holiday home’
When they’re not escorting younger relatives and their frazzled parents on holiday, just over half (51%) of the UK’s grandparents who provide childcare for their grandchildren over the summer holidays do so in their own home, meaning that it is fast becoming a ‘holiday home’ for many children.

Even when they’re at home, half of grandparents (50%) claim they are increasingly called on to provide childcare duties during the school summer holidays in July and August. The main reasons for this is that parents have had to return to work because of the economic climate (26% of childcare providing-grandparents agree with this) and seem to be working ever longer hours (28% agree).

Summer savings
Over half (60%) of the 12.5 million over 50s grandparents across the UK, equivalent to 7.5 million grandparents, regularly provide childcare for their grandchildren. The time they spend doing this over the summer period alone could cost parents up to £558 if they had to pay for it – potentially saving UK parents around £806 million in childcare costs this year alone³.

Janet Connor concludes: “With grandparents seen as a summer holiday essential for families it is important that they ensure they have comprehensive and straightforward travel insurance. With cover from as little as £41.04⁴ for a 66-year-old couple travelling to Europe for two weeks and a low excess at just £40, RIAS travel insurance offers affordable cover, giving peace of mind – one less thing to worry about when you’ve got your hands full with the grandchildren!”

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For further information, please contact:
Jo Carr or Alex Kennedy at Seventy Seven PR on 020 7492 0977 or email rias@77pr.co.uk
Alternatively, contact Lucy Pope, Consumer Communications Manager, RIAS on 01202 254445 or email lpope@rias.co.uk or Blair Catchpole, Consumer Communications Executive, Fortis on 01202 254489 or email Blair.Catchpole@fortis-uk.com

Notes to Editors
¹ Research commissioned by RIAS and carried out by Opinium between 24 – 30 June 2010. Total sample size was 1,908 grandparents aged over 50 with at least one grandchild. The survey was carried out online.

² There are 12.5m over 50s grandparents in the UK (source: Opinium Research, 2010). 30% of these regularly holiday as an extended family so they can help with looking after their grandchildren (3.75m).

³ 60% of UK grandparents provide childcare to their grandchildren (7.5m grandparents). 50% of these say childcare increases in school holidays (3.75m grandparents).

Of the 60% of grandparents who provide childcare to their grandchildren:

• 5% provide all holiday childcare (375,370 grandparents, 100% of childcare)
• 9% provide most holiday childcare (675,666 grandparents, 75% of childcare)
• 15% provide half of holiday childcare (1,126,111 grandparents, 50% of childcare)
  

The average weekly cost of providing holiday childcare in England is £92.99 (source:
The Daycare Trust Holiday childcare costs survey July 2010). Therefore, overall bill for all over 50s grandparents is £806.3 for summer childcare.

⁴ The premium is based on a 14 day, single trip policy, based on no pre-existing medical conditions. Any pre-existing medical condition should be declared in accordance with the policy wording. RIAS Travel Insurance is underwritten by Europ Assistance Holding Irish Branch, who are regulated by Autorité de Contrôle des Assurances et des Mutuelles (ACAM), the French Regulator. The insurance is administered by Europ Assistance Holdings Ltd (which also provides all assistance services), who are authorised and regulated by the Financial Services Authority (FSA).

About RIAS
RIAS was established in 1992 and is a specialist award-winning provider of insurance products for the over 50s age group.

Part of Fortis (Insurance UK) Limited, RIAS has nearly a million motor, home and travel insurance customers and employs over 1,100 people across two UK sites. RIAS negotiates with a panel of insurers to secure competitive, value for money products.

As a leading provider of award-winning personal and commercial lines insurance solutions in the UK, Fortis has a successful customer-centric strategy, founded on aligning its activities to how customers want to buy insurance, combined with delivering high quality products, manufactured at costs better than market norms.

Insuring in the region of 7 million customers and working with a range of partners, Fortis is recognised for delivering consistent and high-quality customer experiences. In 2009, its non-life profit before tax and interest was £29 million and its non-life GWP was £805 million.