The individual critical illness market has long been one of the most competitive in the protection industry, but, writes Owain Thomas, could controversial new plans and a battle over definitions see it break out into open warfare?
From an adviser’s point of view, there has been only one subject dominating the critical illness (CI) landscape recently; the expected introduction of sales scripts. The project has been orchestrated by an industry-wide group to prevent more severe sanctions from the FSA, after the regulator uncovered significant failures to disclose full policy details to customers in oral sales. Although its investigation was into the sales of CI under Insurance Conduct of Business Sourcebook (ICOBS) guidelines, it appears that some bodies are planning to recommend the scripts as best practice to bo...
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