When cover is allowed to lapse, it incurs costs to the client if they wish to resume at a later date. Andy Milburn questions this practice and devises a cunning plan…
Readers of COVER are frequently reminded how much the individual protection industry in the UK has evolved in recent years. Yet our industry continues to ignore certain tasks, processes and practices that we have undertaken for years without ever questioning if they could be done in a better way. We have still got some great examples of processes that remain the same as they were 20 or 30 years ago. Lapses and reinstatements are two of those areas that spring to mind. Some may say those areas do not help us to write more business so why should they give them any focus? The recession h...
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