A recent report from the Financial Ombudsman Service showed there was a 17% decline in the number of income protection and critical illness disputes it had received during the past 12 months compared with the previous year. What do you think of these findings, what do they tell you and what is the next stage?
Market viewsKarin Lloyd, Karin LloydPutting these figures in context, there has been a drop in the level of complaints to the Ombudsman overall. However, income protection (IP) and critical illness (CI) have still managed to significantly outperform this, suggesting that the industry has done something positive. So has the industry simply been paying more claims? Some of the latest CI claims figures from leading insurers would suggest so but this begs further questions. Have companies gone soft, or does this reflect improved underwriting practices like tele-interviewing or better applicat...
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