Last month, I covered some of the outstanding matters raised in the IP Task Force White Paper that need to be resolved in order to remove any potential consumer detriment at claims stage for income protection (IP) insurance.
The White Paper also addresses wider consumer fairness issues for example, it proposes a kite-mark (itself a heavily protected term) of products that meet certain criteria so that consumers and advisers can easily compare products, and it can be made clear what is and is not IP insurance. Progress has so far been dogged by disagreements between different companies about the level of collaboration that is desirable but there is a way through this without requiring all companies to sign up. That is to make kite-marked IP comply with an Office of Fair Trading- (OFT) supported Code of Practi...
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