Last year in COVER, I raised the concept of a consumer focused quality standard for IP (QS) which would be underpinned by an Office of Fair Trading (OFT) approved code of practice.
The idea came from the IP Task Force’s suggestion of a kite mark but, unlike their proposal, it would only apply to a section of the market. This is normal practice for OFT codes and has the huge advantage of avoiding the need for cross-industry consensus. While progress has been made on consensus building there seems to be insuperable obstacles in some areas. I believe this QS will break the log-jam for income protection products and be of huge benefit to consumers. As with all ideas the devil is in the detail, but I am pleased to say Karin Lloyd, a strategic and technical claims consul...
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