'Record-breaking' £5bn in total pay-outs for protection industry last year and £1.6bn paid out for group risk, according to ABI and GRiD
Another ‘record-breaking' year has been recorded for the protection industry, as figures from Association of British Insurers (ABI) and Group Risk Development (GRiD) reveal a total of £5bn in claims paid in 2017 - an increase of more than £340m on last year. The total percentage of claims paid for the year was 97.8% and £13.9m per day was shelled out for income protection, critical illness cover and life assurance. For individual protection, the number of claims paid by more than 20,000 year-on-year...
Group life, critical illness and income protection business bought from Munich Re
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