Norwich Union has seen an 11% increase in critical illness (CI) payments since 2005, following initiatives to drive down non-disclosure.
The insurer’s latest Critical Insurance Claims Report shows 86% of CI claims were paid during the first half of 2007, compared to 80% in 2006 and 75% in 2005. The company says in the last 12 months it has launched a campaign to educate consumers on the importance of full disclosure. In July it also piloted a review of 5,000 existing protection policyholders, asking them to re-examine the original application and supply any information missed at the outset. “This was designed to draw people’s attention to the issue of ‘non-disclosure’ and ensure they have the correct level of cover,” the ...
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