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."

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