Income protection providers vow to publish claims statistics
Tue, 19 May 2009
An industry body that has been set up to boost sales of income protection (IP) insurance has pledged to work with insurers to publish details of the proportion of claims that they pay out and decline.

The undertaking is part of a number of steps outlined by the Income Protection Task Force (IPTF), which recently launched its second White Paper at the London offices of reinsurer Pacific Life Re .

The IPTF, which described developments following its first White Paper published in 2005, said that it planned to work with the Association of British Insurers (ABI) to publish claims statistics "to demonstrate that long-term IP is an area where the industry really does treat customers fairly when they need it - at claims stage".

Delegates at the launch of the second White Paper from the IPTF, which is made up of insurers, reinsurers, financial advisers and consultants welcomed the news that claims statistics for IP could be out in the open.
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