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NU critical illness claims stats up to 86%

Norwich Union paid out 86 per cent of critical illness claims in the first half of 2007 compared to 75 per cent in 2005 according to its latest Critical Insurance Claims Report.

NU says a series of initiatives to drive down non-disclosure, including a campaign to educate consumers about the importance of full disclosure on applications, was behind the increase.

Director of risk products Willie Mowatt says: “Non-disclosure is a huge concern throughout the insurance industry, which is why we are delighted to see more and more people helping to stamp out the problem.”

In July NU asked 5,000 existing protection policyholders to review their original application forms and supply any medical information they may have initially missed.

Mowatt says early indications from this pilot have shown an excellent response rate from existing customers providing extra information to ensure they have a valid policy which will pay out in the event of a legitimate claim.


FSA to assess all small firms on TCF

The FSA has announced a new programme of measures to increase its contact with small firms and to ensure they are embedding Treating Customers Fairly principles in their business practices.The aim is to encourage firms to make faster progress on TCF and to identify those firms most in need of guidance and “regulatory attention”.The FSA […]

FSA highlights changes to unit-linked investment regime

The FSA is to introduce changes next month to allow life insurance companies to invest in a wider range of unit-linked assets.The changes, which come into effect on October 6, are part of the regulator’s move to a more principles-based regime for unit-linked investments.The current ‘permitted links’ rules governing which assets the unit-linked insurance sector […]

Five reasons for optimism in India

By Kunal Desai, Head of Indian Equities at Neptune Investment Management Following the MSCI India Index’s 26.4 per cent return in 2014, stemming from a 7.3 per cent rise in GDP, investors have recently become increasingly concerned about India’s future growth potential. What has happened to India’s reform agenda and are there any signs of […]


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