New ABI private medical insurance clarified.

New ABI private medical insurance clarified.

New ABI private medical insurance clarified.

The ABI (Association of British Insurers) has today published new guidance that updates the definitions of medical terms used in all Private Medical Insurance (PMI) policy documents and information, and introduces guidelines to explain PMI cover for cancer. The revised definitions have been developed during a detailed consultation with the industry and other relevant groups, including the charity Cancerbackup. The definitions and guidance will help to ensure that PMI customers are able to understand what policies do and do not cover, and to compare the products of different companies more easily.

Nick Starling, the ABI’s Director of General Insurance and Health, said:

“PMI provides valuable cover for around six million adults and children in the UK. It enables them to that they can get the treatment they need when and where they want it, and it also helps to free up NHS resources.

“The ABI has been working with member companies, and organisations such as Cancerbackup, to create clearer definitions of medical terms. And for the first time, companies will be required to provide a more detailed explanation of their cancer cover. This is because cancer is a complex disease that does not always fit into the standard categories of ‘acute’ or ‘chronic’ illnesses. We hope that the new definitions will improve people’s understanding of PMI and encourage more people to take it out.”

Joanne Rule, Chief Executive of Cancerbackup, said:

“We welcome these important guidelines. They are a result of a long campaign by Cancerbackup and a strong industry response through the ABI.

“Common definitions will bring much needed clarity to people purchasing PMI and allow them to make better informed decisions about the kind of cover they want, and the treatments which would be covered if they were diagnosed with cancer.”

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Notes for Editors

1. Enquiries to:
Alan Leaman 020 7216 7440 (Mobile: 07957 482 330)
Jonathan French 020 7216 7392 (Mobile: 07958 330 480)
Malcolm Tarling 020 7216 7410 (Mobile: 07776 147 667)
Erfan Hussain 020 7216 7411 (Mobile: 07712 841 184)
Kelly Ostler 020 7216 7415 (Mobile: 07968 364 302)

Dave Ward (Cancerbackup) 020 7920 7218 (Mobile: 07973 308 346)

2. The new definitions replace those in Appendix C of the ABI Statement of Best Practice for the Selling of Private Medical Insurance Cover, the latest version of which was published in July 2006. The new cancer cover explanation is included in Appendix B. The full document is available on the ABI web site, www.abi.org.uk.

3. The ABI is the trade association for Britain’s insurance industry. Its nearly 400 member companies provide over 94% of the insurance business in the UK. It represents insurance companies to the Government, and to the regulatory and other agencies, and is an influential voice on public policy and financial services issues. ABI member companies hold up to a sixth of all investments traded on the London Stock Exchange, on behalf of millions of pensioners and savers.

4. An ISDN line is available for broadcasts.

Copies of all ABI news releases, together with other information from the Association, can be seen on our website http://www.abi.org.uk