The updated version of the Association of British Insurers' (ABI) statement of best practice for critical illness (CI) cover is soon to be revealed. The ABI believes the revised document will help consumers better understand how CI works. Will it succeed?
Market Views PETER LE BEAU, Le Beau Visage One of the most-quoted business maxims of the current age is: "If it ain't broke, don't fix it". I appreciate the sentiment but it is not one I could apply to CI insurance at present. It may be unduly harsh to claim this product was broken from the outset, but it was possible to see flaws in the concept of a guaranteed version of the product even when it was first produced. The reinsurer I was working for at that time immediately spotted the danger of advances in medical treatment. Others glibly pressed on, encouraging offices as they went to...
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