Tailor-made

Spiralling premiums have hit the private medical insurance (PMI) market hard in recent years, and although product innovation and budget PMI policies may stem the flow of consumers turning their back on the market, there is a long way to go before the industry can talk about a recovery. According to information analyst Datamonitor, average individual premiums were just under £800 in 1999, but had risen by almost 55% to just over £1,200 in 2005. For an insurance seen by most people as a luxury product, it is no surprise that such a rise has been a bitter pill to swallow for consumers. Th...