Holloway Friendly paid 96.2% of all income protection claims in 2011, an increase on the 95.5% paid out the previous twelve months.
Of the 3.8% of unpaid cases 67% were due to the increasing number of claimants who failed to provide the correct medical or financial evidence. Although this was the highest percentage of unpaid claims, a number were also because clients had not informed Holloway Friendly that their circumstances had changed since they took out their policy and had suffered no financial loss.
No claims were denied due to non-disclosure, which demonstrates the benefits of telephone interviewing and the society’s continued underwriting developments.
Mat Manser of Holloway Friendly says, “We have an exceptionally high pay out rate on claims. This improves every year, showing that we continue to support our members when they need us the most.”