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PMI firms hit back at OFT attack on policies

PMI providers have hit back at OFT criticism of the industry by claiming

they have addressed issues of clarity and transparency on policies.

The OFT says firms do not give policy information onincreases and

moratoria. It says its request was ignored for statistics to be published

on premium rises over the last five years.

But Bupa press officer Adam Lewis says: “We do not think publishing

retrospective figures will benefit the customer. It will only confuse them.

If customers are concerned about premium increases, we offer fixed-priced

products. As for information on premium increases, we give details to

customers every year when they renew policies.”

Concerns on moratorium-based policies were alsorejected by Standard Life

Healthcare. PR officer Mandy Blanks says: “We have noevidence that

customers would not have treatment. I find it incredible the OFT suggests

this is the case.”


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