Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 27th of May 2017
July 16, 2012

Aviva enhances critical illness cover

by Gill Montia

Story link: Aviva enhances critical illness cover

Aviva has extended the level of cover on new critical illness (CI) policies with changes including additional benefits for new conditions, new ABI+ definitions and increased maximum payments for child CI cover. Five CI conditions have been enhanced beyond ABI standard definitions as follows: cancer, Alzheimer’s disease, Parkinson’s disease, major organ transplant and motor neurone […]



June 7, 2012

Aviva: finances top stressor for US men and linked to weight gain

by Gill Montia

Story link: Aviva: finances top stressor for US men and linked to weight gain

A new survey by Aviva USA, in collaboration with Mayo Clinic, has found the primary factor contributing to stress for men in the US is their financial situation. The survey also reveals a strong correlation between high levels of stress and dramatic weight gain among US males. Two out of three men reported they were […]



May 21, 2012

Only 15% of UK workers insured against ill-health

by Gill Montia

Story link: Only 15% of UK workers insured against ill-health

Only 15% of UK workers have any form of insurance against ill-health preventing them from earning a living, with just 7% receiving the insurance as part of their employee benefits package, new research from MetLife suggests. The insurance gap is at its widest for those aged 55 and over as only 12% of this group […]



May 14, 2012

Long-term sickness rates alarm manufacturers

by Gill Montia

Story link: Long-term sickness rates alarm manufacturers

New research from the UK manufacturers’ organisation, EEF, indicates that the downward trend in sickness absence rates in the sector has plateaued. According to the latest EEF/Westfield Health report, the overall rate among manufacturers’ employees remained unchanged in 2011 compared with 2010, at 2.2%, and the average number of working days lost to absence held […]



April 23, 2012

Psychiatric conditions dominate Aviva’s IP claims

by Gill Montia

Story link: Psychiatric conditions dominate Aviva’s IP claims

Aviva’s income protection (IP) cover provided payments totalling over £29.5 million in 2011, with psychiatric conditions topping the list of claims by volume. More than one in four IP claims (28%) involved psychiatric conditions – moderate depression was the most common (28%), followed by anxiety (15%) and stress (12%). Orthopaedic conditions took second place (21%) […]



April 5, 2012

Private healthcare referred to Competition Commission

by Gill Montia

Story link: Private healthcare referred to Competition Commission

The Office of Fair Trading (OFT) has referred the UK private healthcare market to the Competition Commission for further investigation. The move follows a market investigation by the watchdog and a public consultation on its findings. The OFT says it continues to hold the view that the market could work better for patients, and that […]



March 20, 2012

Jelf’s Wayne Pontin new AMII Chairman

by Brian Turner

Story link: Jelf’s Wayne Pontin new AMII Chairman

At the Annual General Meeting today of The Association of Medical Insurance Intermediaries (AMII), Wayne Pontin was appointed chairman. Pontin was a member of the AMII executive committee from 2007 to 2010 and is currently Sales Director (West) of Jelf Employee Benefits. He succeeds Andrew Tripp, who has been AMII’s chairman for the last two […]



March 19, 2012

Aviva pays 99% of protection claims

by Gill Montia

Story link: Aviva pays 99% of protection claims

Aviva paid 99% of all protection claims (life insurance and critical illness cover) in 2011, having settled 99.7% of life and 94.1% of critical illness claims. Overall 0.4% of protection claims were declined due to non-disclosure, breaking down as life: 0.3% and critical illness: 1%. According to the insurer, 2011 payments totalled £439 million across […]



Mental and behavioural disorder claimants up 29%

by Gill Montia

Story link: Mental and behavioural disorder claimants up 29%

New analysis by Legal & General shows that the number of people claiming Employment and Support Allowance (ESA) because of mental and behavioural disorders has increased over 29% since 2010. ESA is paid to people who cannot work because of ill-health or disability and in May 2011, 265,530 people were claiming the allowance because of […]



March 13, 2012

Aviva reviews IP occupational classes

by Gill Montia

Story link: Aviva reviews IP occupational classes

Aviva says it has made income protection insurance more affordable and inclusive, following a comprehensive and wide-ranging review of occupational classes. The insurer has updated around 250 occupational classes and many occupations previously classed as a higher risk (e.g. journalists, chartered surveyors, vets and scientific professionals) have now been reduced. Over two hundred occupations have […]



March 12, 2012

AXA completes acquisition of Health-on-Line

by Gill Montia

Story link: AXA completes acquisition of Health-on-Line

AXA UK has completed the acquisition of specialist on-line health insurance provider, Health-on-Line, which is based in Bournemouth and employs around 170 staff. The deal will strengthen AXA PPP healthcare’s capability as a multi-channel distributor and, by leveraging Health-on-Line’s IT capability, facilitate further development of lower-cost cover, in a bid for growth. It should also […]



Expacare launches small group international healthcare plan

by Gill Montia

Story link: Expacare launches small group international healthcare plan

Expacare has launched “Choices” a new international healthcare plan for small groups. The ex-pat health insurance specialist, which is part of the JLT group, says the new offering has been designed specifically for groups of five to 29 employees, offering flexible benefits on a modular basis. The insurer’s managing director, Beverly Cook, comments: “The market […]



February 21, 2012

Aviva puts new spin on family protection sales

by Gill Montia

Story link: Aviva puts new spin on family protection sales

Aviva has revamped its support to advisers to help them overcome barriers in selling family protection. The insurer wants advisers to emotionally engage with consumers by focusing on the positive aspects of family life and opening up conversations around “What makes your family special?”. By switching the emphasis from protection products to family life, they […]



February 19, 2012

L&G enhances critical illness cover

by Gill Montia

Story link: L&G enhances critical illness cover

Legal & General’s group critical illness cover now includes cover for aplastic anaemia, bacterial meningitis, cardiomyopathy, encephalitis and liver failure. In addition, the insurer has adjusted the survival period for most illnesses from 30 to 14 days and is increasing the value of support available to claimants. Their maximum benefit can now be up to […]



February 3, 2012

AMII concerned over Defaqto PMI ratings

by Brian Turner

Story link: AMII concerned over Defaqto PMI ratings

The Association of Medical Insurance Intermediaries (AMII) expresses its concerns at Defaqto’s ‘Star Ratings’ for private medical insurance (PMI) launched this week. AMII’s Chairman, Andrew Tripp said, “Our members, all of whom are specialist independent healthcare intermediaries with considerable expertise in PMI, are bemused by Defaqto’s ranking of PMI products. “For example, we do not […]



Finance & Insurance top for mental health IP claims

by Gill Montia

Story link: Finance & Insurance top for mental health IP claims

Group income protection (GIP) claims for mental health are at their highest in the “Finance and Insurance” sector, according to Legal & General. The insurer has recently published an analysis of its GIP claims since 2000 with the figures showing that overall, 31% of claims were for mental health issues such as stress and depression, […]



January 11, 2012

AXA enhances cancer and heart coverage

by Richard Kilner

Story link: AXA enhances cancer and heart coverage

AXA PPP healthcare has announced that it is enhancing its support for those policyholders with cancer/heart disease, with immediate effect. The insurer is now providing full cover for licensed cancer drugs, on its standard coverage levels for individuals and SMEs. Regarding cancer treatment, the firm is waiving any monetary limits applying to out-patient tests and […]



December 8, 2011

Private healthcare market headed for CC referral

by Gill Montia

Story link: Private healthcare market headed for CC referral

The Office of Fair Trading (OFT) has provisionally decided to refer the UK’s £5 billion private healthcare market to the Competition Commission for further investigation. The watchdog’s key concerns include: A lack of easily comparable information available to patients, GPs or health insurance providers on the quality and costs of private healthcare services. Lack of […]



Britons risk old age care cost shock

by Richard Kilner

Story link: Britons risk old age care cost shock

New research from Bupa has found that Britons may be in for an unpleasant surprise as they get older, due to the fact that they are least likely to think that they will need to save to cover the costs of old age care. The international Bupa Health Pulse study surveyed over 13,000 people in […]



November 14, 2011

Aviva uncovers financial weakness of UK workers

by Richard Kilner

Story link: Aviva uncovers financial weakness of UK workers

More than half of British workers (52%) would not be able to sustain themselves financially for more than three months, if they were off work due to ill health. Almost a third (30%) would not be able to last a month, but 9% believed that they would be able to survive for a year or […]