The Association of British Insurers has bowed to pressure from Swiss Re and changed its statement of best practice on critical illness insurance for two types of cancer.
In light of new medical evidence presented by Swiss Re which suggests that the two cancers may be malignant in some cases, the ABI has decided that the rare conditions will be covered by CI insurance.
The two forms of cancer were given as examples of pre-malignant conditions not covered under the Statement of Best Practice but essential thrombocythaemia and polycythaemia rubra vera will now be deleted from the current definitions.
The new CI definitions are due to come into force next April but the industry has been encouraged to implement them before this date.
Royal Liver and Prudential are two of the small number of providers who have introduced the ABI’s new CI definitions on their products.
ABI head of health and protection insurance Richard Walsh says: “The ABI Protection Committee has carefully considered all the evidence and has decided that the two cancers will be covered by critical illness insurance. To avoid any confusion, they will be deleted from the Statement of Best Practice cancer definition as examples of pre-malignancy.”