Exeter Family Friendly paid 95% of IP claims

Published on

Exeter-Friendly

Income protection insurer Exeter Family Friendly has released its claims statistics for 2012.

The mutual provider paid 95% of claims received.

The most common category of claim was injuries and accidents, including fractures.

Chief executive Andy Chapman said: “We design all products with one primary purpose, to pay claims. So I’m delighted to see that we continue to perform against this promise.”

The statistics for 2012 include a new list of categories to show the reason for claim, focused more on the cause rather than the impact or condition.

Chapman said: “One of the main reasons consumers use for not buying IP is a belief that it ‘wont happen to them.’ Sadly, our statistics tell a different story; over 40% of claims resulted from injuries of external cause; which can happen to anyone at any time; no matter how healthy they are.”

The most common cause for non-payment of claims was non-disclosure followed closely by claimants still being able to work in their own occupation.

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...

£1 billion lost annually as 50,000 London social homes used fraudulently

A shocking new report reveals that around 50,000 social housing properties in London are...

Other news

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...