Non-mortgage-related term assurance saw a massive increase in sales over the third quarter of 2008. ...
Non-mortgage-related term assurance saw a massive increase in sales over the third quarter of 2008.
The latest statistics from the Association of British Insurers (ABI) show a leap from 205,000 policies written in the second quarter to 940,000 policies written in the third.
The ABI put this increase down to: "one company selling a large amount of business to their current account customers."
However the total value of new premiums only rose from £86m in the second quarter to £98m in the third, indicating low value policies.
The association added that it was not at liberty, due to confidentiality of data, to name the company.
The news that the ABI and British Medical Association (BMA) agreement on GP report (GPR) fees has broken down will usher in a period of uncertainty.
Lack of innovation investment in the UK insurance market has been highlighted by recognition of RGA's work in the US.
Protection business in 2012 and 2013 will be affected by events this year and some fundamental changes to the way customers policies are priced into the next. Richard Verdin explains.
Employee assistance programmes are in the spotlight due to a schizophrenic approach by government. But as Sue Weir points out, they are backed by solid research.
How will people buy insurance in future? Greg Becker visits the US for developments in online distribution.