Exeter Family Friendly pays 95% of IP claims

clock • 1 min read

Exeter Family Friendly paid over 95% of all its income protection (IP) claims received during 2010.

The mutual insurer, which was the first IP insurer to publish its data in 2005, said it was continuing to do so with the aim of promoting consumer confidence in the product.

Muscular and skeletal injuries (excluding back problems) were the highest cause of claim, accounting for 25.56% of the total.

Back and neck injuries (15.22%), operations (including post operation recovery, 13.73%) and fractures (12.57%) were the other causes to result in more than 10% of claims.

Andy Chapman, chief executive of Exeter Family Friendly, said that publishing claims statistics was a way of promoting the products and not for one-upmanship.

"More and more providers are now releasing their claims statistics, whilst there are still a few who don't," he said.

"I'm not going to issue another rallying call to those few, just reiterate that the reason for releasing statistics in the first place was to raise confidence in the product as a whole, not score points over one another."

More on Income Protection

The Exeter pays out £41.2m

The Exeter pays out £41.2m

Income protection showing growth

Cameron Roberts
clock 02 May 2024 • 1 min read
Cirencester Friendly joins ABI

Cirencester Friendly joins ABI

IP awareness

Cameron Roberts
clock 24 April 2024 • 1 min read
Stonebridge adds new Homeowners Income Protection to offering

Stonebridge adds new Homeowners Income Protection to offering

Partnership with Wessex Group

Jaskeet Briah
clock 16 April 2024 • 2 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read