Protection providers are disappointed after the Association of British Insurers omitted customer signatures from its draft guidance on telephone and online applications.
Royal Liver IFA market manager Andy Milburn says he believes some insurers have put pressure on the ABI not to include the issue of whether providers need a wet signature before an online or telephone application is put on risk.
Royal Liver has called on the ABI to standardise guidelines to ensure all insurers request a wet signature when customers apply for protection policies.
Milburn says a wet signature is in the interest of insurers and advisers because it provides some protection in the event of a customer making a complaint to the Financial Ombudsman Service.
He says: “I am very disappointed in the draft guidance and we do not see anything that we campaigned for appearing in the guidance. We will be going back to the ABI with a further response.”
Bright Grey products director Roger Edwards says: “Some providers in the industry do want to move away from wet signatures but it is difficult. There needs to be some discussion on this.”
ABI spokesman Jon French says: “The issue of customer signatures was never intended to be within the scope of the consultation. There is still an opportunity for providers to raise this issue with us.”