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Home / News / Insurance conditions more 'black and white' with ruling
Insurance conditions more 'black and white' with ruling
22 January 2008 12:16:33
Representatives for the British Insurance Brokers' Association (BIBA) commented on the Association of British Insurers' (ABI) decision regarding customers who unintentionally withhold medical information.
Announced earlier this month, the ruling means that only people who deliberately conceal details about their medical history will be financially penalised.
"I think that there were some grey areas previously [where] clients, insurers and medical practitioners were unsure of the position over what was and wasn't a valid claim," remarked Graeme Trudgill, BIBA's technical and corporate affairs executive.
He stated his belief that the ABI is seeking to "make the situation a bit more black and white" in order to help customers do the right thing and receive legitimate payouts.
Mr Trudgill echoed public concerns following a number of recent high-profile claim rejections when he noted that critical illness and life insurance cover have had "a difficult time in the press".
According to BIBA, individuals can often clarify the finer details of life insurance and critical illness policies with the help of a financial advisor or insurance broker.
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, critical illness and life insurance advice online
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