The ABI critical illness (CI) working party has released its new Statement of Best Practice - here its chairman, Nick Kirwan, answers questions on what it contains and the future of CI
What were the main objectives of the review? The key objectives of the review were, in conjunction with other ABI initiatives, to tackle the key issues facing CI - sustainability and affordability and the product's reputation. The main issue is declined claims. These primarily happen for two reasons: non-disclosure - which is being addressed by the recently published ABI work on clarity of application forms - and claims that do not meet the definition of what is covered. This latter point suggests that we need to be clearer about what is, and isn't, covered. The ABI review addressed the...
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