British Friendly pays out £5 million in 2024

Overall, 86% of all IP claims were paid in 2024, with 1,023 new claims accepted by the provider. Specifically, 74% of claimants were male and 26% were female. The year prior, British Friendly paid 89% of its new IP claims, distributing just under £5m to its members. Pointing to misrepresentation as a large reason for this change, British Friendly told COVER that it has seen an increase in its "other" categories. Specifically, there was a rise in declines for no loss of income (9% in 2024 vs 3% in 2023), not in employment (5% in 2024 vs 0% 2023) and late notified claims (4% in 2024 vs ...