The Association of British Insurers has issued a consultation document outlining changes to some of the common definitions used in literature for Private Medical Insurance products.
It says the proposals are designed to improve public understanding of health insurance, and the ABI argues the new plans to clarify exactly which cancer conditions are covered will help customers compare policies and choose the best one for them and their families.
In addition, the ABI says the 13-page document - which outlines the proposed changes to its Statement of Best Practice for PMI - introduces a new and clearer explanation of how cancer is covered by PMI, after it held detailed pre-consultation discussions with Cancerbackup and other organisations.
Nick Starling, director of general insurance and health at the ABI, says: “The changes we are proposing to make to our Statement of Best Practice for PMI will improve the clarity of common definitions and, importantly, improve people’s understanding of cancer cover in particular.”
“We are grateful for the help and support we have had from Cancerbackup on this important work.”
The ABI says it is seeking views from all interested parties on the proposals - including member companies, medical organisations, charities, trade bodies, the government, the Financial Services Authority (FSA), the Financial Ombudsman Service (FOS) and individuals - before the consultation closes on Friday 27 July 2007.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Nyree Stewart on 020 7034 2681 or email [email protected]IFAonline
Latest news and analysis
Drip-feed. Blend. De-risk
£92bn transferred since 2015
Achievements, charity work and other happy snippets