Policy wording can leave itself open to argument and delay: CIExpert

“These behaviours diminish confidence in insurance”

Jaskeet Briah
clock • 1 min read

Alan Lakey, founder and director of CIExpert, has warned that any policy wording that requires both the claimants’ specialist and the insurers’ chief medical officer to agree leaves itself open to both argument and delay.

Following the Financial Conduct Authority's (FCA) review of terminal illness benefits within life insurance protection products, CIExpert applauded the pronouncement that the regulator is concerned about terminal illness insurance within protection plans. In the review, published on 2 October, the FCA stated that its findings did not conclude that insurers are "routinely delivering poor customer outcomes for terminal illness benefits" or find evidence of "significant numbers of declined terminal illness claims." However, the regulator detailed several areas of improvement for provider...

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