Blog: Why IP providers need to be more transparent

I was talking to an adviser recently about the topic of publishing claims statistics for income protection (IP). He believed passionately that insurers should be open and honest about how many claims they pay. To the point that when discussing IP, he asks his clients if it is important to them that he recommends an insurer that he can evidence has a track record in paying claims. The answer, he said, is invariably yes. Meaning 12 out of 18 key IP providers are ruled out on the basis they have not published IP claims stats, leaving him with a choice of six providers. The adviser in ...