Scottish Widows publishes claim stats using new ABI method

The insurer has published the claims based on the new methodology set out by the Association of British Insurers (ABI) last week. The claims stats for life and critical illness are above the industry averages announced by the ABI. Of the declined life claims, 0.49% were due to mis-representation and 0.13% due to the definition of terminal illness not being met. Out of the declined critical illness claims, 1.8% were due to the definition not being met and 5% were due to mis-representation. A total of more than £211 million was paid out in life and critical illness claims in 2016, an...