View more on these topics

ABI back to drawing board on TPD plans

The Association of British Insurers is likely to hold another consultation on its proposals to scrap total permanent disability from critical-illness policies after negative feedback.

Plans to replace TPD with a set of new definitions as part of the ABI’s statement of best practice for CI have come under fire from members, including Munich Re and Pru Protect.

Pru Protect director of protection Kevin Carr suggests removing “total” and renaming it “permanent disability”. He says: “Clearer TPD wording would be more beneficial to consumers and the industry.”

Munich Re head of marketing Andy Milburn adds: “The ABI needs to take a step back and conduct further consultation.”

ABI assistant director of health and protection Nick Kirwan admits feedback has been mixed and says: “The plan was to issue a final paper by the end of the year then give our members until 2010 to implement any changes. But I think we would rather get this right rather then stick to a timetable.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com