Product category:
Consumer issues
News Release from: Defaqto | Subject: Guidance publication
Edited by the Insidemoneytalk Editorial
Team on 14 January 2008
Positive impetus to protection market
from new ABI guidance, says Defaqto.
The Association of British Insurers's publication[1] giving guidance to insurers on the treatment of non-disclosure,
provides a platform to rebuild adviser and consumer confidence in protection products, according to financial research company Defaqo The guidance will result in more claims being paid for Critical Illness, Income Protection and Life insurance where medical information has not been disclosed but not deliberately withheld
This article was originally published on Insidemoneytalk on 22 Feb 2007 at 8.00am (UK)
Related stories
Free banking could 'disappear within two years'
Defaqto predicts banks will switch to 'Pay As You Go' charges or flat fees for current accounts
Nick Telfer, Principal Consultant - Protection, says: "Over recent years the protection industry has been working hard to improve the customer experience at point of sale.
The new ABI guidelines complement this by bringing much needed clarity and consistency to the treatment of cases of non-disclosure." Telfer continues: "These developments are evidence of the protection industry's commitment to the principle of treating customers fairly and should rejuvenate confidence.
Hopefully this will start the industry on the road to closing the widely publicised life assurance and income protection gaps." [1] The new ABI guidance, Non-Disclosure and Treating Customers Fairly, January 2008.
• Defaqto: contact details and other news
• Email this article to a colleague
• Insidemoneytalk Home Page
