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BIBA calls for clarity on critical illness cover

Date: Wed, 07 Dec 2005

The British Insurance Brokers’ Association (BIBA) has called for the Financial Services Authority (FSA) to ensure that insurers provide clearer information on their products.

The BIBA has raised concerns that the FSA’s plans to amend the requirement for insurance providers to give status disclosure information to customers could lead to a number of problems for those purchasing policies such as critical illness cover.

The association is particularly concerned that missing information could mean a reduction in consumer choice as well as increasing the risk of customers being misled by unscrupulous firms.

Steve White, head of compliance and regulation at BIBA, said: "The status disclosure information forms an important part of the suite of information customers base their buying decision upon."

He added: "To remove key elements of this information will inevitably lead to customer confusion. It gives both parties the opportunity to demonstrate that the customer’s demands and needs have been understood and, therefore, that the product being provided is being done so on the correct basis."


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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.