AFM comments on new figures showing Protection insurers payout record amount
Insurance industry paid out over £5 billion in Protection claims in 2018
Providers, advisers and consumers should be equally pleased today with the news that the insurance industry paid out over £5 billion in protection claims in 2018. This demonstrates how the right insurance cover offers really substantial support to people in their time of need. And with such a high proportion of claims being paid, consumers can take great comfort that, when they need to claim on their policy, the industry will respond sympathetically and in their best interests. Our own research indicates AFM members are at the forefront in raising the proportion of claims paid, and that this is leading to a sharp increase in interest in protection cover. For more on this, click here.