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Non-disclosure is the issue in protection

Non-disclosure is the most important issue facing the protection industry, according to Nick Kirwan, chairman of the ABI Protection Committee.

Nick Kirwan says: “The most important issue for the insurance industry is non-disclosure. We are reducing the number of incidents, but we need to do more work on treating people fairly when non-disclosure comes up. We are not going to get people on our side by turning down someone’s breast cancer claim because they didn’t tell us they had a bad back.”

Non-linked non-disclosure is a key reason for the industry’s poor public image, an issue which television programmes, such as BBC’s Watchdog, have often been critical of.

The insurance industry needs to improve its definitions of permanent disability to reflect the numerous causes of disability and it must build awareness of income protection products among the public.

There is increasing need for protection products among members of the public, due to an increased reliance on two incomes, a ‘buy now – pay later’ society, the £27 billion savings gap, and £1.3 trillion debt mountain.

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Non-disclosure is the issue in protection
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