COVER's Promoting Protection campaign has made a landslide win after the Association of Brit...
COVER's Promoting Protection campaign has made a landslide win after the Association of British Insurers (ABI) announced that it will fully support the campaign, writes Johanna Gornitzki.
Apart from the ABI, industry heavyweights such as Asda Life and HSBC Life have also pledged their support - showing clear indications that the industry is gathering behind the concept.
Commenting on the ABI's move, Stephen Haddrill, director general of the ABI, said: "The ABI is delighted to support Promoting Protection. Life and protection insurance provides peace of mind to millions of individuals and families in Britain, paying claims totalling billions of pounds to people in very difficult times.
"This campaign will raise the profile of protection insurance, and help customers and advisers better understand the industry's products. We want people to feel confident that protection insurance will meet their expectations. We are therefore taking action to ensure consumers understand the terms of their policy and give the right information to their insurer so that they are not disappointed when they make a claim. ABI members are introducing new application forms, which ask clearer questions on medical history; the definitions of medical conditions within critical illness insurance have been made easier to understand; and we are improving online and telephone application procedures.
"By working together, providers, financial advisers and the media can help to get the message across to consumers that protection insurance is a valuable product," he added.
More companies have also backed the campaign, including Bupa Individual Protection, Essential Health, Highclere Financial Services, Liverpool Victoria, Oval Financial Services, Prudential and Zurich.
www.promotingprotection.co.uk
nFor a political perspective on the campaign, see the article written by political lobbyist Mark Twigg on page 16-17.
