ABI: Private medical insurance coverage rises again

ABI: Private medical insurance coverage rises again

ABI: Private medical insurance coverage rises again

The number of people covered by Private Medical Insurance (PMI) broke the six million mark for the first time in five years, according to latest figures from the ABI (Association of British Insurers). In 2007, a total of 6,004,000 people were covered by either personal or corporate PMI, with a further 1,136,000 covered through Healthcare Trust arrangements. A total of 7,140,000 people now have some form of private health cover in Britain.

The news coincides with publication by the ABI of a revised and improved consumer guide on PMI, which gives people a wealth of information to help ensure they buy a PMI policy that meets their needs.

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

“It’s good news that the popularity of Private Medical Insurance continues to grow. Health insurance gives people access to the treatment they need, when they need it, offers greater privacy and better facilities, and reduces pressure on the NHS. And it enables employees to get back to work after illness or injury much more quickly than they otherwise would. This is good for companies and the economy, and is reflected in the rise in the number of people covered by corporate policies.

“The ABI’s updated consumer guide will help to improve knowledge of the benefits of PMI. It will also help people make the right decisions and know what their responsibilities are when they take out PMI. The guide sets all this out in clear language, helping customers through the process of taking out PMI.”

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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-Coyle 020 7216 7415 (Mobile: 07968 364 302)

2. Full details of the 2007 PMI data and the Consumer Guide are available on the ABI web site, www.abi.org.uk.

3. The number of people covered by PMI rose from 5,879,000 in 2006 to 6,004,000 in 2007, an increase of 2.13%. Of this, 4,341,000 were covered by corporate policies, an increase of 3.65% on 2006, and 1,663,000 were covered by individual policies, a decrease of 1.66% on 2006.

4. A further 1,136,000 people were covered by healthcare trust arrangements in 2007, an increase of 11.26% from 1,021,000 in 2006.

5. 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.

6. 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