CI 'negligent' option secures extra £1.5m payouts at Aegon

According to the insurer, the 'negligent' category introduced by the Association of British Insurers (ABI) in January 2008, which allows for a 'proportionate' payment depending on the nature of the non-disclosure, allowed for extra payouts of £1.52m last year. It paid out £19m in total. "We have changed our approach to claims handling following the new ABI guidance and worked with IFAs to educate them on the areas where non-disclosure occurs and what they can do to stop it occurring at application stage," Aegon technical claims manager Helen Morris says. Overall, the insurer says it pai...