How much will the Association of British Insurers' (ABI) new guidelines on non-disclosure cost, and how much of that will trickle down to consumers?
Alan Lakey, Highclere Financial Services Non-disclosure has long been a thorn in the side of the industry as it provides good knocking copy for journalists and thereby serves to erode consumer confidence in all financial products. The problem has been the usual one of subjectivity - was the non-disclosure innocent, negligent or fraudulent? The common view is that insurers will look to wriggle out of any claim if they can, whereas the reality is somewhat different. Nonetheless, where subjectivity is involved there will always be scope for disagreement. Just look at the pr...
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