As the sector takes on more risk Lee Lovett gives an insight into factors affecting the underwriting of group business.
The group risk market is going through significant change at the moment having been relatively stagnant for several years. A number of these changes are positive, but is the market being realistic in the way it is pricing business? The underwriting process for group schemes has undergone significant change recently aimed at improving the quality of the initial underwriting assessment, which enables future benefit increases to be made without additional underwriting. These changes are welcome. The best example of this has been the move to scrap "forward underwriting bars" and move to a...
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