Bright Grey's 15% declinature rate for non-disclosure on life claims has been defended as 'usual' fo...
Bright Grey's 15% declinature rate for non-disclosure on life claims has been defended as 'usual' for a new company. Bright Grey denied 15% declined claims for non-disclosure on life policies was out of the ordinary. Roger Edwards, product director at Bright Grey, said: "In terms of a company in its early stages of development, that figure is quite average."
Jonathan French, spokesperson for the Association of British Insurers, agreed it was typical for a new company to have high declined rates in its early years that waned over time.
The provider's claims statistics also showed 18% of critical illness claims were declined due to non-disclosure and definitions not being met over the past year.
Edwards said claims were turned down due to medical non-disclosure on applications. He said: "It's because someone has applied for a policy the day after being diagnosed with suspected cancer."
Matt Morris, policy adviser at LifeSearch, said: "I have noticed it is the first time Bright Grey has published claims statistics and it seems like a good start."
