Bupa expands Individual Protection professions
by Richard Kilner
Story link: Bupa expands Individual Protection professions
Bupa Individual Protection has enhanced its individual income protection proposition by adding an extra 130 occupation definitions, enabling professionals suchs as dentists, surgeons and college lecturers to protect their income based upon their specific profession.
Product development head Steve Casey explained that customers would feel more comfortable having their own profession covered, and gives them a [...]
90% of critical illness claims paid out
by Gill Montia
Story link: 90% of critical illness claims paid out
New figures from the Association of British Insurers (ABI) show over 100 families and individuals a day claiming on their life or critical illness insurance, during 2008.
According to the ABI, the average claim stood at £52,000 or double the average UK annual salary.
In addition, the number of critical illness claims paid out rose to 90% [...]
MPPI sales soar at Select & Protect
by Gill Montia
Story link: MPPI sales soar at Select & Protect
Select & Protect has reported a surge in sales of Mortgage Payment Protection Insurance (MPPI) with sales increasing by over 90% since the launch of its new offering, in July.
The firm’s sales director, Paul Firkins, says: “Our MPPI product boasts a number of market leading selling points including the option to sell unemployment only cover [...]
Bupa enhances group income protection offering
by Gill Montia
Story link: Bupa enhances group income protection offering
Bupa is “significantly enhancing” its group income protection offering from 1st January 2010.
The healthcare company has been studying customer and intermediary feedback and in future will provide early intervention and return-to-work support on all group income protection schemes, with no increase to premiums.
Dedicated claims assessors and nurses will be allocated to each case to enable [...]
Thornside partners Assurant in pet insurance deal
by Gill Montia
Story link: Thornside partners Assurant in pet insurance deal
Thornside has announced that it has been appointed by US-based Assurant to provide and administer the latter’s new pet insurance product, for the next three years.
The firm, which forms part of the Capita group, will provide dedicated sales, fulfilment services and claims handling to Assurant’s Protect your Bubble brand, which is underwritten by Agria International [...]
Bupa reveals critical illness claims figures
by Richard Kilner
Story link: Bupa reveals critical illness claims figures
Bupa has released figures showing that just two percent of critical illness claims were turned down due to non-disclosure, and less than ten percent were declined for not complying with the policy definition.
Bupa Individual Protection’s product development chief, Steve Casey, described the figures as good news for customers and an improvement on the numbers from [...]
PruProtect launches Essentials life products
by Gill Montia
Story link: PruProtect launches Essentials life products
PruProtect is launching a new “Essentials” range comprising life only and life with serious illness cover.
The plans are being made available online only to all UK intermediaries and includes the option to upgrade to the provider’s existing PruProtect plan.
With the new products, some features (including automatic children’s cover, guaranteed insurability options and immediate cover) have [...]
Thornside secures Aviva pet insurance deal
by Gill Montia
Story link: Thornside secures Aviva pet insurance deal
Thornside has been appointed by Aviva to provide and administer its new pet insurance product.
The firm, which is the pet insurance division of Capita Insurance Distribution, will be providing the service for the next three year.
Aviva says it has been working closely with Thornside to refine the new policy, which was launched on 5th [...]
Heath Lambert scoops PHI ward
by Gill Montia
Story link: Heath Lambert scoops PHI ward
Heath Lambert has won an award for its health cash plan cover, which aims to reduce the cost of permanent health insurance for employers.
The broker worked with not-for-profit health cover specialist, BHSF, to create its offering and has received the “Best Use of Cash Plans by an Intermediary” accolade at the 2009 Health Insurance Awards.
The [...]
Swinton fined £770,000 for PPI mis-selling racket
by Gill Montia
Story link: Swinton fined £770,000 for PPI mis-selling racket
The Financial Services Authority (FSA) has fined Swinton Group £770,000 for serious failings in the sale of single premium payment protection insurance (PPI).
The high street broker will also be contacting over 350,000 customers who paid for the cover and offer a full refund.
The regulator found that between December 2006 and March 2008 the firm’s PPI [...]
Heath Lambert launches health plan for diabetics
by Gill Montia
Story link: Heath Lambert launches health plan for diabetics
Heath Lambert has launched a bespoke health cash plan for people with diabetes.
The new policy, which is provided by not-for-profit health insurer, BHSF, has been commissioned by Diabetes UK.
It should allow those living with the condition to apply for cover without the concern that they will be refused, or face having claims denied on the [...]
Competition Commission to reconsider PPI sales ban
by Gill Montia
Story link: Competition Commission to reconsider PPI sales ban
The Competition Commission has been told to rethink plans to introduce a total ban on the sale of sale of payment protection insurance (PPI) alongside consumer credit agreements.
The insurance, which is intended to cover repayments on unsecured loans should the borrower lose their job or become too ill to work, is notorious for being mis-sold [...]
FSA tackles shifting MPPI terms
by Gill Montia
Story link: FSA tackles shifting MPPI terms
The Financial Services Authority (FSA) has announced that it has developed an industry-wide package of measures in conjunction with Mortgage Payment Protection Insurance (MPPI) providers, which will result in consumers receiving refunds totalling around £60 million.
According to the regulator, the industry has acted in response to its concerns over recent increases in premiums and reductions [...]
No hiding place for PPI mis-sellers
by Gill Montia
Story link: No hiding place for PPI mis-sellers
The day of reckoning has arrived for lenders who mis-sold single premium payment protection insurance (PPI) alongside unsecured loans and credit card agreements, and then tossed aside consumer complaints about their practices.
The Financial Services Authority has announced “a package of tough measures” which it says will “tackle the key issue that too many complaints are [...]
Willis HRH and Concentra reduce healthcare costs
by Richard Kilner
Story link: Willis HRH and Concentra reduce healthcare costs
Willis HRH has announced that its Employee Benefits Practice has formed a partnership with US-based healthcare firm Concentra to provide adaptable, tailored solutions to reduce healthcare costs and enhance the employee health management of Willis client companies.
In collaboration with Concentra, Willis HRH is able to benefit from a fresh perspective and offer an improved proposition [...]
First Senior Group and Unique team up
by Richard Kilner
Story link: First Senior Group and Unique team up
First Senior Group has teamed up with Unique, Heath Lambert’s specialist insurance scheme catering for those with pre-existing medical conditions, in a deal which will see First Senior Group’s members provided with life assurance, home, travel and motor insurance.
First Senior Group was established 15 years ago and specialises in mobility insurance and mobility finance.
Individuals with [...]
Barclays challenges restrictions on PPI sales
by Gill Montia
Story link: Barclays challenges restrictions on PPI sales
Restrictions on the sale of payment protection insurance (PPI) due to come into force next year, are being challenged by Barclays.
PPI is frequently sold alongside unsecured loans to provide cover for repayments if the borrower loses their job or becomes too ill to work.
For years, consumer groups have claimed that the market is uncompetitive [...]
Heath Lambert selected by Care UK
by Richard Kilner
Story link: Heath Lambert selected by Care UK
Insurance broker and risk adviser Heath Lambert has been selected by leading independent health and social care provider Care UK to provide the group with insurance.
Care UK has a quarter of a century’s experience providing the elderly, the young, the disabled and sufferers of mental disorders with nursing, residential and community care.
In addition the firm [...]
Munich Health offers health coaching in Abu Dhabi
by Richard Kilner
Story link: Munich Health offers health coaching in Abu Dhabi
Daman National Health Insurance has opened a new medical service centre in Abu Dhabi.
Daman, in which German firm Munich Re has a 20% stake, will offer patients healthcare support for conditions such as chronic diabetes and obesity.
Such healthcare services form the core of Munich Re Health’s platform, together with disease management for chronic conditions and [...]
Zurich updates critical illness cover
by David Masters
Story link: Zurich updates critical illness cover
Zurich has improved its critical illness cover by reducing premiums for some policy holders and broadening the range of conditions covered.
The insurer, which paid out nearly £60 million in critical illness claims last year, said the policy revamp was “the right thing to do”.
Premiums have been reduced where exclusions apply for cancer or Multiple Sclerosis, [...]
