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Industry consults on critical illness move

The Association of British Insurers is consulting on a user-friendly reference guide to critical illness insurance definitions to help IFAs, customers, and claims assessors understand the meanings of the medical definitions.

The ABI said the guide should result in:

— fairer and more consistent treatment of customers by insurers at the point of claim;

— improved information through advisers at the point of purchase and the

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Fair value rules still fail brokers and consumers alike

Four-and-a-half years after the Financial Conduct Authority’s fair value rules arrived, Branko Bjelobaba, principal of compliance consultancy Branko Ltd, argues inconsistent data and vague metrics still make it difficult for brokers and consumers to compare insurance products properly.

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