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Pioneer paid 96% of income protection claims in 2007

Pioneer paid out on 96 per cent of income protection claims last year, down from 97 per cent in 2006.

Musculoskeletal and back injuries accounted for 32 per cent of claims and operations and fractures resulted in the second and third highest number of claims. Dental and optical injuries accounted for 8 per cent of claims last year.

Chief executive Andy Chapman says firm is happy with the statistics and has urged other income protection providers to publish claims statistics.

He says: “We believe it is vital to publicise claims statistics to reassure policyholders and intermediaries of the importance and value of this crucial form of protection insurance. We were the first provider to reveal our income protection claims statistics and are committed to doing so annually. If the income protection market is to reach full potential providers have a responsibility to be open and transparent with intermediaries and consumers.”

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