Life insurance reform backed by insurance company

Mon, 14 Jan 2008

According to life insurance news reports, the friendly society LV= are backing calls by the Association of British Insurers to step up an industry-wide motion regarding levels of payment on protection insurance claims .

LV= have signed up to a new code of conduct, under which insurance companies pledge to pay any valid claims, unless fraud or reckless behaviour is involved. The insurance company is also actively attempting to improve the disclosure process.

LV= reportedly commented: "Our innovative and bespoke UK-based tele-interviewing service is just one part of our approach to ensure the accurate capturing of clients’ details, as well as ensuring clear and comprehensive up-front disclosure."

A number of insurance industry measures are being introduced including improved application forms and better communication between insurance companies and those consumers that make a claim .
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