Defaqto believes the onus is on insurers to make the new ABI critical illness (CI) statement of best practice a success.
It also expects the next two years to see some "interesting developments" as providers implement the changes before the end of 2012 deadline. The ABI introduced the latest statement of best practice last week following a prolonged period of research and consultation with consumers and industry groups. Its primary aim was to clarify the definitions surrounding total and permanent disability (TPD), although a complete name change was eventually scrapped after poor industry feedback. Ben Heffer, protection analyst at Defaqto, applauded the changes and acknowledged the work involved. ...
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