Insurance

Insurers have agreed to continue not using genetic test results for the vast majority of insurance policies until 2017.

Scottish Provident has revealed it paid 90% of critical illness (CI) claims last year totaling £88m.

The government has announced plans to abolish life assurance premium relief (LAPR) in the budget.

Holloway Friendly has launched a new Income Protection plan tailored specifically for mortgage advisers to sell.

LV has overhauled its income protection (IP) and critical illness (CI) offerings, including extending coverage on both to age 70.

Defaqto believes the onus is on insurers to make the new ABI critical illness (CI) statement of best practice a success.

LV= has improved its claims paid figures for both critical illness (CI) and income protection (IP) during last year.

The ABI has published its latest update to the critical illness (CI) statement of best practice which it hopes will improve customer understanding of the product.

Zurich has revealed that less than 1% of its critical illness claims were declined for non-disclosure last year.

Advisers are at risk of further FSA action as miscommunication between AIFA and the ABI means many are not aware of critical illness (CI) sales guidelines released last year.