CI claims declined for non-disclosure drop at NU

clock

Norwich Union says the number of critical illness (CI) claims declined due to non-disclosure fell for the second consecutive year in 2007.

The insurer says claims rejected for failing to disclose medical facts fell to 4.17% from 8.5% in 2006, while those turned away for failing to meet the criteria fell to 6.15% from 9% in 2006. Norwich Union says the total number of CI payments made increased by 4.7% from 80% in 2006, while it says it paid out £106m to CI policyholders in 2007, the largest sum it has ever paid out. Darren Dicks, head of protection products for Norwich Union, says: “Critical illness claims can only be paid if the customer has a valid policy and their claim meets the policy criteria. “Many insurers face hars...

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

Training day: How will CPD changes impact protection?

Training day: How will CPD changes impact protection?

Rules may “lead to protection being overlooked”

Cameron Roberts
clock 30 May 2025 • 6 min read
'Surely we're capable enough of doing it ourselves': Industry says protection should be in-house

'Surely we're capable enough of doing it ourselves': Industry says protection should be in-house

Majority believe IFAs and wealth managers should not outsource, PA Asks finds

Isabel Baxter
clock 13 May 2025 • 3 min read
Five things to know when assessing critical illness policies

Five things to know when assessing critical illness policies

Five critical illness factors to consider

Alan Lakey
clock 12 May 2025 • 4 min read