ABI seeks to improve TPD clarity

In suggested changes to its Statement of Best Practice for CI Cover, it says TPD should be replaced with a set of "carefully worded" definitions to ensure clarity for consumers about which conditions are, and are not, covered. The proposals follow concerns about the number of CI policies declined under the TPD clause. Although TPD accounts for only 3% of CI claims, the ABI says, more than half (55%) are turned down. The ABI says it also wants to introduce a new model definition for ‘Loss of the physical ability to look after yourself' by introducing six new rules, three of which must ...