Market Views

clock •

The ABI reviews the statement of best practice on critical illness every three years. Given the high frictional costs associated with the change that the customer ultimately pays for, is it still correct that we should follow this strict path?

  Nick Kirwan, ABI Our Statement of Best Practice (SoBP) was developed to ensure consumers can take out a Critical Illness (CI) policy with confidence. It sets out clearly a standard set of definitions that consumers can expect all CI policies to follow as a minimum. CI insurance makes a huge difference to the lives of policyholders at very stressful times, so it is essential consumers always have confidence it is fit for purpose. With constant medical advancements and the industry striving to improve customer experiences, regular reviews of the SoBP are vital. Changes to the way...

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

Budget 26: The protection and health impact

Budget 26: The protection and health impact

Protection industry reflects on missed opportunities

Cameron Roberts
clock 30 October 2026 • 5 min read
Is failing to protect a client's income an oversight or neglect?

Is failing to protect a client's income an oversight or neglect?

What happens to your financial plan if your ability to earn reduces or stops?

Kevin Carr
clock 29 October 2026 • 3 min read
Why the protection gap is a problem of reach

Why the protection gap is a problem of reach

'Most people I meet have never had protection properly explained to them'

Cherian Skariah
clock 16 October 2026 • 4 min read