AFM member pay outs rise 53% following LV= addition

The increase largely follows LV='s new membership with the AFM and its results have expanded the value of claims paid, the association stated. The number of claims paid dropped marginally to 92% from 94% the previous year, although the amount paid out last year is approximately 3% higher compared to 2021. Overall, pay outs on IP claims we made to over 9,000 policyholders which continues an annual trend of decline; 10,300 customers received pay outs in 2021, which the AFM noted was a 17% year-on-year decrease following a spike of new claims made in 2020. Musculoskeletal problems wer...