Scottish Widows has published its protection claims statistics, which show that more than £219 million was paid out in life and critical illness claims in 2015, equating to an average of more than £4 million per week.
Following recent stories of declined claims in the Mail on Sunday, Kevin Carr uses lessons from Britpop to argue why insurers should pay out rather than say a claim does not 'meet the definition.'
British Friendly has become the first insurer to publish a decade of claims statistic as it revealed that it paid 96.7% of all income protection claims since 2006.
Zurich UK paid 92% of critical illness (CI) claims made in the first half of 2015, and 82% of income protection claims, the insurer's claims statistics have revealed.
Scottish Widows has published its individual direct protection claims stats, which show that over £190 million was paid out in life and critical illness claims in 2014.
Income Protection (IP) specialist PG Mutual saw a 4.7% increase in its balance sheet, bringing it to a record £37m.
The vast scale of self-employed people who believe less income protection claims are paid out than actually are has been found by research from British Friendly.
Over three quarters (77%) of consumers are unaware of claims statistics being published while 32% said claim rates had been discussed with them by their adviser.
Exeter Family Friendly paid 94% of income protection (IP) claims for 2014 with 36% of claims coming from injuries and accidents.
Universal Provident has revealed a breakdown of its declined private medical insurance (PMI) claims statistics for 2014, with two reasons each accounting for 16% of rejections.
Aviva paid out £513m on claims in 2014, an increase on the 2013 figure of £505m as it released its annual claims statistics.
Collective claims data to the end of 2013 has now been added to the Finance & Technology Research Centre (F&TRC)'s research platform.
The CEO of Cirencester Friendly has said that a statistic of claims paid on its own ‘doesn't mean very much'.
Members of The Syndicate questioned the usefulness of claims statistics from insurers at the launch of its annual report.
Non-contestability of claims is, on the surface, a way to rebuild consumer confidence in insurers. However, as Simon Havinden notes, lessons from the US suggest otherwise
As the ABI examines publishing claim statistics on short-term income protection (STIP) policies, British Friendly's Mark Myers says we need greater clarity on these plans.
Cirencester Friendly has revealed it paid out 94% of claims in 2013 maintaining the same pay out rate as 2012.
Zurich UK Life has revealed it paid out 94% of income protection (IP) claims to customers during 2013.
Income protection (IP) provider British Friendly has announced it paid out 96.27% of claims during 2013.
The British Insurance Brokers' Association (BIBA) has appointed Flaxmans to provide a specialist Claims Advocacy Service to members.
F&TRC has launched a new claims statistics tool for advisers to encourage greater industry transparency and tackle client fears that claims do not pay out.
Insurers have applauded news the ABI is to refine definitions insurers use to report claims pay-out rates to ensure greater consistency across the industry.
Scottish Widows has published details of its life and critical illness (CI) claims with an average of nearly £4 million paid out every week during 2012.
Currently published claims statistics, adviser use of them and the need for standardisation are set to be important debating points at research company F&TRC's next Protection Forum event on 23 May.