Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 25th of July 2017
December 20, 2012

UK insurers pay out £6.7m a day on protection policies

by Gill Montia

Story link: UK insurers pay out £6.7m a day on protection policies

Latest figures from the Association of British Insurers (ABI) show that every day in 2011 insurers paid out £6.7 million to individuals and families who had made claims on life, critical illness and income protection policies. In 2011: • The average pay-out on a life insurance policy was £46,000, two and a half times the […]



December 17, 2012

Bupa to acquire Dental Corporation

by Richard Kilner

Story link: Bupa to acquire Dental Corporation

International healthcare group Bupa has announced that it plans to acquire Dental Corporation, Australia and New Zealand’s largest dental group. The acquisition will bolster and broaden Bupa’s current healthcare offering in Australia and New Zealand, which already includes private health insurance, care homes, retirement villages, and many other services. On completion of the deal Bupa […]



December 12, 2012

Mental health main secondary condition for work absentees

by Gill Montia

Story link: Mental health main secondary condition for work absentees

Analysis by Legal & General (L&G) of research into the Department of Work and Pensions Fit for Work Service shows that 73% of respondents who were absent from work reported more than one health condition, with mental health illnesses the most commonly reported secondary condition. For example, 44% of respondents who reported that their main […]



December 4, 2012

Stoic Brits with cancer symptoms slow to see GP

by Gill Montia

Story link: Stoic Brits with cancer symptoms slow to see GP

AXA is urging stoic Brits to get to know what “normal” feels like and to seek medical advice if they spot unusual symptoms. New research from the insurer shows that people across UK are delaying going to their GP despite noticing something that isn’t usual for their body – mostly they would have to feel […]



November 29, 2012

Bupa makes international appointment

by Gill Montia

Story link: Bupa makes international appointment

Bupa has appointed Robert Lang as managing director of its International Private Medical Insurance (IPMI) business. Mr Lang joins from UBS where he was a managing director in the bank’s European Wealth Management division. However, he has more than 10 years’ experience of the insurance sector, having previously held various roles within HSBC including managing […]



November 27, 2012

Only a half of Brits comfortable challenging a doctor

by Gill Montia

Story link: Only a half of Brits comfortable challenging a doctor

Almost a third of patients don’t feel comfortable challenging a doctor about advice or treatment recommendations, even if they want to, according to new research from Bupa. A survey of attitudes to health across 14,500 people in 13 nations reveals that people in Egypt and Saudi Arabia feel most confident questioning their doctor with three […]



November 16, 2012

Bupa announces second PPP deal in Spain

by Richard Kilner

Story link: Bupa announces second PPP deal in Spain

International healthcare group Bupa has announced its second public private partnership (PPP) in Spain. Bupa’s Spanish business Sanitas and the Madrid regional government signed an agreement whereby Sanitas will manage the 250-bed Torrejón Hospital. The agreement lasts for a period of 30 years and covers 136,000 people living in Madrid and the surrounding area. Medical […]



November 12, 2012

Mental disorders keep one million Britons off work

by Gill Montia

Story link: Mental disorders keep one million Britons off work

New research from Legal & General (L&G) shows that over one million Britons are claiming benefits because mental and behavioural disorders mean they can’t work, an increase of over 25% in the last ten years. According to Department for Work and Pensions figures, 1,031,700 people were claiming sate benefits in February 2012 because mental and […]



November 8, 2012

Friends tracks rise in worker stress levels

by Gill Montia

Story link: Friends tracks rise in worker stress levels

A new study from Friends Life reveals that a third of the UK’s working population has called in sick due to stress, with over half of this group having been unable to work because of stress at some point during the last 12 months. Almost half of respondents have felt more stressed since the onset […]



November 2, 2012

LV= enhances IP cover for doctors and surgeons

by Gill Montia

Story link: LV= enhances IP cover for doctors and surgeons

LV= has enhanced the benefits for surgeons and doctors with its income protection (IP) insurance. Changes include an NHS sick pay guarantee, an increased benefit guarantee of £3,000, sabbatical cover and enhanced guaranteed insurability options. With regard to sabbaticals, doctors and surgeons can now keep full IP cover in place if they take a sabbatical […]



October 17, 2012

LV= offers 5% discount on income protection

by Gill Montia

Story link: LV= offers 5% discount on income protection

LV= is offering a 5% discount on all income protection applications until 30th November 2012. The discount, which will be included automatically in new quotations, comes ahead of the implementation of the EU gender directive, which will see the insurer switch protection to gender neutral rates on 1st December 2012. All applications in the pipeline […]



October 9, 2012

Mental health better understood in the workplace

by Gill Montia

Story link: Mental health better understood in the workplace

Increased understanding of mental health issues at work has prompted a steady rise in the number of UK employees claiming for psychiatric disorders on both income protection and private medical policies, Aviva reports. In 2011, conditions such as depression, stress and anxiety were the biggest cause for claim across the insurer’s income protection solutions, which […]



September 21, 2012

LV= outlines protection gender plans

by Gill Montia

Story link: LV= outlines protection gender plans

LV= will switch its protection business to gender neutral rates on 1st December and is offering advisers a “G Day Guarantee” ahead of the gender directive, which comes into force on 21st December 2012. The mutual reckons switching rates ahead of time offers certainty for advisers by allowing applications in the pipeline by 1st December […]



September 19, 2012

Bupa warns of social care black hole

by Richard Kilner

Story link: Bupa warns of social care black hole

The absence of a sustainable funding structure for social care has added £26m to the financial black hole over the course of the last 12 months. The stark assessment comes from Bupa’s recent Bridging the Gap report, which puts the total funding shortfall at £892m. The population is ageing and thus increasing social care demands, […]



UK business braced for ageing-workforce health issues

by Gill Montia

Story link: UK business braced for ageing-workforce health issues

In its latest Health of the Workplace report, Aviva is claiming that companies are already seeing a change in their workforce demographics, prompting fears that ageing-workforce health issues will affect their business. The removal of the Default Retirement Age, increased longevity and continued financial pressures on the over 55s mean that nearly a third of […]



September 13, 2012

Bupa launches student health product

by Richard Kilner

Story link: Bupa launches student health product

Bupa has announced that it has launched a new product designed to help students stay healthy and manage health expenses during their first years away from home. Bupa Student Health Expenses has an especial focus upon mental health and fitness, and starts at £9 per month. The product covers £600 worth of benefits, such as […]



September 6, 2012

LV= partners RAC with protection products

by Gill Montia

Story link: LV= partners RAC with protection products

LV= has signed a five-year partnership agreement with motoring service provider, RAC. Through LV=, RAC will offer its customers a telephone-based advice service on protection products (income protection, critical illness and life cover) and issues such as inheritance tax planning. Customers will also be able to purchase term life and 50 Plus products via the […]



August 30, 2012

Lockton to enter UK employee benefits market

by Gill Montia

Story link: Lockton to enter UK employee benefits market

Lockton is to enter the UK employee benefits market with a view to building a full-service capability by the beginning of next year. The new enterprise will be headed by Mike Tyler who will join the broker on 1st October having previously held the post of managing director the UK division of global benefits business, […]



August 12, 2012

Friends enhances critical illness offering

by Gill Montia

Story link: Friends enhances critical illness offering

Friends Life has enhanced coverage on a number of its critical illness policies by adding new conditions, enhanced ABI+ definitions and removing restrictions on pay-outs linked to terminal illnesses. New conditions covered are: Sudden Cardiac Arrest, Pituitary Tumour, Cerebral Arteriovenous Malformation and Cerebral Aneurysm. Childs Hydrocephalus has also been added for children. In addition, Sudden […]



July 18, 2012

CMI highlights impact of recession on employee health

by Gill Montia

Story link: CMI highlights impact of recession on employee health

New research from the Chartered Management Institute paints a bleak picture of the impact of the recession on employee health in UK workplaces. Compared with 2007, managers today are: working longer hours due to larger workloads; increasingly suffering from ill health including stress and depression; are more likely to come to work despite being sick. […]