New products on horizon as Clinicare granted status

PMI insurer Clinicare has finally received authorisation from the FSA after fighting for two years to achieve independent subsidiary status from French parent company Assurances Mutuelles de France.

The move means that the UK subsidiary will have much more freedom in the designing and pricing of products for the market instead of simply acting as an administrator for the French parent.

Clinicare says there will not be any new products immediately, as it will take time to assemble the necessary systems and product design teams, but it is hoping to deliver new PMI products to the market by next year.

Effective from April 1, all new business will be underwritten by Clinicare and all existing policies will transfer from AMF to Clinicare on a renewal basis.

Clinicare has moved offices to Letchworth, Hertfordshire from its former premises in Stevenage to allow for future expansion.

It has also upgraded its product literature and redesigned its website to make it more consumer-friendly and easy to navigate.

The UK company is the last of AMF&#39s subsidiaries to achieve fully independent status. Its US, Italian and Spanish companies have become independent.

Clinicare managing director Derry Andrews says: “The medical insurance market is going through some challenging times. Our authorisation, along with the introduction of our new brand identity and website investment, underlines our commitment to the UK market and to our membership at large and is a positive statement of our French parent&#39s intent for the future.”