Legal & General, a holding company of a group of insurance, investment management and financial services companies, has reported that its critical illness claims paid during 2007 increased to 88.2% from 83.3% in 2006.
Legal & General has reported that for the year 7.7% claims have been declined for non-disclosure, down from 12.1% recorded in 2006. The company’s paid in claims totaled GBP110 million, an increase compared to GBP92.1 million paid in 2006.
Bernie Hickman, managing director of protection business at Legal & General, said: This is further evidence of our progress in bringing down the level of declined claims. Customers should have every confidence that insurers will treat them fairly when they make a claim. We are in the business of paying out much needed money when customers need it most.