With Tesco launching a direct PMI product while Legal & General exits the market, Kirstie Redford reports on how this affects big players' market share and the sector as a whole
It may only be a few months into 2007, but there have already been two headline-grabbing stories about the individual private medical insurance (PMI) market. Tesco has launched a direct PMI product that many have labelled as decidedly controversial, and one of the market's prominent players, Legal & General, has withdrawn from the market altogether. Both of these developments have been a blow for PMI advisers. Although some may argue that Tesco's product, which is underwritten by Axa PPP Healthcare, could help raise awareness of the market to the wider public, the fact that it encourages c...
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