E-only protection provider Royal Liver has issued a scathing response to the proposed changes to critical illness (CI) insurance definitions by the Association of British Insurers' CI Working Party.
Issuing a statement following a meeting of the Personal Finance Society to agree an official response to the party's recommendations, the Merseyside-based insurer accepted that a review of the current definitions was necessary, but expressed concern that "some of the changes proposed do not meet the working party's objective of improving clarity". The insurer warned against rebranding, since "changing the name would probably attract more bad coverage for the product, with the potential for the media to be able to accuse the industry of trying to engineer a cover-up". The statement also ...
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