Cirencester Friendly paid 94.7% of claims in 2016, an increase on 2015’s figure of 94%.
The individual income protection provider said that during last year, a total of 863 applications for claims were made, of which 98.8% were eligible for consideration. This left 853 claims to be considered; of these, 808 (94.7%) were paid – a total of almost £4.0 million in sick pay benefit.
The principal reasons for not admitting claims were:
- no evidence of pre-disability earnings could be supplied
- there was no actual loss of earnings
- claims were in respect of pre-existing disabilities that had not been disclosed
The greatest number of claims in 2016 were for accident or injury (34.3%).
| Accident/Injury | 34.3% |
| Other | 17.7% |
| Back/Neck/Shoulder/Muscular/Arthritis | 14.5% |
| Hip/Knee | 6.4% |
| Depression Type Illness | 6.6% |
| Abdominal | 5.4 |
| Common Infectious Disease | 4.4% |
| Chest/Lung/Nose/Throat | 3.3% |
| Cancer | 4.3% |
| Heart/Circulatory | 3.1% |
(The above table denotes new claims made in 2016)
Paul Hudson (pictured), chief executive of Cirencester Friendly, said: “We exist to support our members financially when they need us and are delighted to report such positive claims figures. The fact that the results are an improvement on the 2015 figures is testament to our continued efforts to educate our members and supporting advisers. The dedication of the Cirencester Friendly team to that task is to be commended.
“There is a misconception by many that insurers look for ways to decline claims. The figures help to dispel this myth and demonstrate the real value of having income protection insurance. We very much look forward to providing continued support to our members in 2017.”