As the group PMI market continues to evolve, Charlie MacEwan looks to the future and discusses how insurers are looking to control growing costs in the sector
Unrelenting upward pressures on premiums means that companies are looking for more affordable alternatives to traditional private medical insurance (PMI). Insurers must evolve their products to meet this need. In January 2003, Adrian Norris of Buck and Willis, said: 'In five years time, businesses will face an additional £1.1bn PMI bill, a 70% rise in the current cost of healthcare'. Considering the amount of debate since, it is an issue that still needs to be resolved. So let us take a look at what is happening in the corporate PMI market and ask how it might evolve in the next five y...
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