Guidance halving non-disclosure disputes - ABI

clock

The Association of British Insurers (ABI) says guidance it issued on protection non-disclosure has helped halve the number of disputed claims sent to the ombudsman (FOS).

Claims in Q1 2008 relating to critical illness, income protection or life insurance policies reached 85, FOS figures show, but had fallen to a provisional low of 40 by Q4. Additionally, the ABI says its guidance, which came into effect on 1 January 2008, has been updated to a code of conduct, removing "any doubt" members may have had over whether it was mandatory or not. "We're delighted this initiative has worked so well and complaints have halved," ABI director general Stephen Haddrill says. "As always, it remains essential for people to answer all questions carefully, to the best o...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Listen and learn: Protection must change how it communicates

Listen and learn: Protection must change how it communicates

'Maybe it's time we start to make fewer assumptions'

Kevin Carr and Alan Lakey
clock 30 April 2024 • 4 min read
Cognitive biases in advice and the psychology of insurance

Cognitive biases in advice and the psychology of insurance

A look into client decision making and its effects on protection uptake

Jaskeet Briah
clock 25 April 2024 • 5 min read
Aviva completes £460m acquisition of AIG Life after CMA delay

Aviva completes £460m acquisition of AIG Life after CMA delay

'It's disappointing to lose another protection insurer from the market'

Cameron Roberts
clock 10 April 2024 • 2 min read