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Aviva pays out 94% of IP claims


Aviva paid out on 94 per cent of individual income protection claims and 93 per cent of critical illness claims during 2012.

The insurer also paid on 99 per cent of life insurance claims last year.
Aviva’s claims statistics, published today, show protection policies resulted in a payout of around £470m across life, CI, and individual IP during 2012.
Life cover accounted for £324m of the total payout, CI represented £131m and IP made up almost £15m.
The payouts covered 10,880 life insurance claims, 1,716 CI claims and 1,130 IP claims.
Of the claims that were declined, 0.7 per cent of life cover claims, 0.4 per cent of individual IP claims and 1.7 per cent of CI claims were rejected due to non-disclosure.
Aviva chief underwriter Robert Morrison says: “Almost 14,000 of our customers and their families benefited from payments last year, so people can be reassured we are absolutely committed to paying claims wherever possible. This is borne out by our latest claims statistics.
“We will continue to work with our customers to ensure if they need to make a claim, their journey is as quick and straightforward as possible.” 


Mattioli acquires Ashcourt Rowan’s pension admin business

Mattioli Woods subsidiary City Pensions Limited has acquired Ashcourt Rowan’s pension administration business in a deal worth up to £1.3m. Under the deal, City Pensions will acquire the trade and certain assets of Ashcourt Rowan Administration Limited, plus pension trustee companies Ashcourt Rowan Pension Trustees Limited and Robinson Gear Management Services. The businesses provide trustee […]

Ashcourt Rowan revenues down following restructure

Ashcourt Rowan has seen revenues fall in the year to 31 March following an internal restructure which saw a number of managers exit the firm. The company’s trading update, published today, says while revenues are down year on year, revenues in the second half rose £1.1m from H1 to £17.1m. Ashcourt Rowan says total funds […]


L&G reviews pension liberation transfer stance

Legal & General is reviewing its policy on blocking transfers to pension liberation schemes due to concerns its current position is at odds with HMRC guidance. L&G currently warns members about the risks of taking their pension early if it suspects they are trying to move their fund to a liberation scheme. It also delays […]

Out of Context

“Kevin is the Shane MacGowan of protection.” Lighthouse Services IFA Richard Mahony on Protection Review chief executive Kevin Carr at a drinking session.  “The man from the Pru still exists except now he is Asian and a woman.” Prudential deputy chief executive Barry O’Dwyer explaining how the firm is shedding sales staff in the UK but growing in […]

How do you choose the best online service?

By Ross Jackson, senior marketing manager There are many different protection online services available in the market and no doubt you’ll have used a few when submitting protection business. But why should you have to put up with slow, unresponsive sites for your business when you’re used to dealing with slick, modern user experiences in your […]


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