Protection specialist, The Exeter, have announced that they paid 94% of income protection claims in 2015
The mutual insurer, The Exeter which rebranded from Exeter Family Friendly in October 2015 has published its income protection claim statistics for 2015.
They released their annual claims statistics within an infographic (below) designed to provide detail behind the data, showing that accidents, injuries, back and musculoskeletal problems accounted for almost 60% of paid claims.
Chief Executive Andy Chapman commented: “We have a proven track record of delivering on our promise to customers. We were the first insurer to publish our claims statistics in 2005 and have recorded consistently high figures year on year.”
“Publishing claims statistics is a key factor in building consumer confidence in protection insurance. I am delighted that we are becoming a more open industry, committed to helping customers when they need protection the most.”
Of the 6% of claims that were declined, 4% were for non-disclosure and 2% were due to the claimant still being able to work in their own occupation. In 2005, The Exeter were the first UK insurer to publish their income protection claims statistics and over the last 10 years Exeter have paid an average of 95% of all income protection claims.
Last 10 years income protection claims statistics