The Association of British Insurers (ABI) has published a new statement of best practice for the sale of private medical insurance (PMI) in a bid to offer consumers clearer information about health insurance, particularly about cancer.
The London-based group said the statement is the result of wide consultation with trade associations, consumer groups and leading charities, including Cancerbackup and Macmillan Cancer Support.
The ABI says it is also reviewing the common definitions within PMI policies, including exploring options for improving clarity and the definitions of ‘acute’ and ‘chronic’ conditions.
PMI is a valuable product, enabling people to receive high quality medical treatment, quickly. We now want to make it easier to understand, said Chris Kenny, ABI’s director of life and pensions.
Under the ABI’s new statement, customers will be able to compare how different providers deal with different medical conditions, through explanations based on specific case studies.