A new dawn

The latest figures from Swiss Re's 2006 Term and Health Watch Report show the individual critical illness (CI) market as having experienced another abysmal year. According to the report, new sales figures fell again in 2005, totalling 632,285 new policies – 14.2% down on the previous year. New policies are now 54.1% of the peak figure recorded in 2002, and at the lowest level since 1996. Ever since 2002, new sales have declined – partly as a result of a slowing mortgage market but also as a consequence of wider concerns over the viability of the product in its present form – premiums have...