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Fall in PMI plans but revenue increases

The number of people with private medical insurance dropped last year,

according to Laing & Buisson, but the health insurance industry remains

positive.

In its annual survey on the sector, L&B says the number of people covered

by PMI fell by 4.5 per cent to around 6.4 million by the end of 1999. But

despite the fall in the number of policies, the revenue income generated by

PMI increased by 6.4 per cent to £2.173bn across the industry.

The report&#39s author, economist Philip Blackburn, says demand for PMI is

being dampened by the lack of tax relief and premium increases.

But health insurers and intermediaries are still largely optimistic about

the future of the PMI market.

Standard Life Healthcare sales director Philip Wright says: “The initial fallout from the ending of tax relief was less than expected.

“There is always some shifting across from individual to corporate cover.

On balance, we would be more positive than negative.”

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