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Exchange adds quotes to cover special risks

The Exchange is adding a special risks section to portal ExWeb to offer intermediaries protection business quotes.

The special risks centre will provide intermediaries with guidance on what constitutes a special risk and help them get the best rate for clients through a special underwriting process.

The Exchange&#39s research shows that 62 per cent of the 500 IFAs it surveyed through ExWeb can identify clients as being “non-standard risk” before they give a quotation.

The application and underwriting process will be provided by Risk Placement Services and Otter Risk Solutions.

RPS says 414,000 non-standard applications were made in 2001 but 45 per cent did not make it on to the books oflife companies.

The firm says by reducing the level of multiple applications per case, the service will reduce the costs of processing non-standard business.

Impaired annuities and immediate long-term care services may also be introduced to ExWeb this year.

The Exchange chief operating officer David Child says: “This service will make it quicker and easier to for intermediaries to get competitive terms for non-standard risks.”


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