The Association of British Insurers' Critical Illness Working Party has today released its revised S...
The Association of British Insurers' Critical Illness Working Party has today released its revised Statement of Best Practice, which will bring CI policies up to date with new advances in medicine and medical practice.
The changes, as reported two weeks ago by IFAonline, will mainly affect the definitions of heart attacks and cancers.
The CI market has doubled in the past three years, and Nick Kirwan, chairman of the working party, has said the revisions are necessary to ensure the industry does not become crippled by excessive claims, but primarily to make sure that consumers know what is covered given changes to health practices and government policies.
ABI members have until May 2003 to adopt the changes, which they must do to retain membership in the association.
Further information is available from the ABI website at www.abi.org.uk.
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