Archive for February, 2010

12m people covered by critical illness insurance

Dr Marius Barnard has described critical illness insurance as one of the largest policies in the UK. Dr Barnard created the product fifteen years ago, and has said that over the course of that time it has been refined and improved. When it was first introduced in 1983, critical illness insurance covered only four conditions. [...]

PPI revenue kept personal lending profitable

The Competition Commission has published details of its investigation into payment protection insurance (PPI), in which it claims that the lenders who sell the insurance can earn £1,200 on a policy that can cost only £20 to sell. The Commission’s investigations follow complaints from consumer groups that PPI is expensive, unnecessary and difficult to claim. [...]

Financial Ombudsman inundated with PPI complaints

The financial Ombudsman Service (FOS) has reported a sharp increase in complaints on the outstanding balance insurance (PPI) and this call is on Banks and other lenders to act quickly to compensate for most customers, since the evil sold PPI. In January 1499, the FOS received complaints about PPI compared to 1832 for the fiscal [...]

Heart disease on rise, insurers offer incentives to be healthy

After three decades of decline, heart disease is now rising again by a team from the University of British Columbia, published in the journal Archives of Internal Medicine research. Particularly at risk are the new generations. The rate of heart disease began to appear in the layer between 35 and 55, with the approval of [...]

L&G critical illness claims 88.2% successful

Legal & General (L & G) has made 110 million in insurance claims in 2007, so that the applicant has a success rate of 88.2% versus 83.3% in 2006. The non-disclosure has been reported as a reason for 7.7% of those rejected in the past year. The increase from 17.9 million in payments is by [...]

Table challenges FSA action on PMI

financial Services Consumer Panel (FSCP), the body which advises the financial Services Authority (FSA), in terms of an independent client, warned that new rules governing the sale of private medical insurance (PMI) provided risk. The FSA intends to PMI in the same category as car and household insurance, but believes that FSCP PMI is too [...]

Pru incentives promote fitness

Preventive helped incentives for insurance customers to introduce a healthy lifestyle. About PruHealth Division has a number of organizations that can help the contractor to increase the amount of exercise they take to lose weight associated with neglect. Under this plan, guns, LA Fitness and Virgin Active gyms offer discount membership to members who attend [...]

British are often on their health

A report by Norwich Union found that the British are less accurate to say when it comes to potential employers or data on health lifestyles. Nearly 50% called non-smokers, or thinner / fitter than they really are. The report showed that 80% of people feel healthy, to get someone to be more attractive, with 28% [...]

LV= backs protection insurance reforms

LV = has responded enthusiastically to an industry wide initiative to payment protection insurance. The friendly society has signed a new code of conduct, under which the insurer to pay valid claims, except in cases of fraud or negligence by promises. LV = has worked with the Association of British Insurers in the wording of [...]

HFC Bank fined £1.085 million for PPI breach

The financial Services Authority (FSA) has 1.085 billion HFC Bank’s report of 160,000 customers, a fine for mis-selling of outstanding balance insurance (PPI). The fine is the largest ever by the regulator on the PPI. HFC is part of HSBC Group and the Bank operates in household insect marks and financial markets through the 136th [...]

FSA continues PPI campaign

The financial Services Authority (FSA) has again expressed concern about the sale of payment protection insurance (PPI). The Authority believes that many companies have this type of insurance is not for sale, clear information about the cost of PPI policy, or what is referred to. Following recent research, the data of 11 companies from the [...]

ABI revises PMI guidelines

The Association of British Insurers (ABI) issued new guidelines for health insurance to provide consumers with a better understanding of the products. These changes should ensure that customers understand what PMI can make policy and does not cover. They can also help consumers to compare products from different companies offer. The definitions of medical terms [...]