The Association of British Insurers has drafted new model critical illness definitions. But it's missed an opportunity to make them clearer. Fairer Finance has written to the director-general to ask them to think again.
Dear Huw (Evans, director general of the ABI), I wanted to respond to your consultation on critical illness wordings. We think it's great that you are undertaking this work as the definitions that sit behind critical illness policies are often misunderstood and poorly worded. Although the intentions of the latest review are right, we believe that the opportunity is not being seized to bring even greater clarity to the definitions that sit behind CI products. Much of the model wordings...
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