Innovation spurs income protection renaissance

The action group, co-chaired by Clive Waller and Peter Le Beau, says original launches from the likes of Fortis and LV= also led to a staggering rise in new premiums last year compared with 2007. According to the Association of British Insurers (ABI), the number of new contracts purchased rose from 118,000 in 2007 to 130,000 in 2008, an increase of 11%. Elsewhere, new premiums rose from £4m to £55m. "It is to be hoped that 2007's figure was a low water mark in income protection production," Peter Le Beau, managing director of Le Beau Visage, says. "Last year, apart from the rise in sa...