Nuts and Bolts

The group risk market is now going through significant change having been fairly stagnant for some years. A number of these changes are positive, but is the market being realistic in the way it is pricing business? The underwriting process for group schemes has undergone significant change recently. The best example of this has been the move to scrap ‘forward underwriting bars’ and move to an approach where highly paid group scheme members are underwritten just once (when they enter the scheme or cover exceeds the free cover level for the first time). The member is then fully covered f...