The Association of British Insurers (ABI) has welcomed the Treasury’s announcement today of new CAT standards to enable people to buy long-term care with confidence. The Association is very pleased to have worked with the Treasury in developing these standards – this is a good example of the private sector and government co-operating to the benefit of consumers.

ABI has also welcomed the Treasury’s consultation on regulating the marketing of long-term care insurance.

This announcement coincides with the publication today of the Health and Social Care Bill which will give effect to the free provision of nursing care in nursing homes. Individuals will remain subject to the means test to establish whether they have to meet the costs of accommodation and personal care.

Stephen Sklaroff, ABI’s Deputy Director General, said:

“We welcome the announcement today of CAT standards for long-term care insurance. These will increase consumers’ confidence to buy insurance in cases where people are responsible for their own care costs.

“We have always supported appropriate regulation of the marketing of long-term care insurance and will be studying the detail of the proposals in the consultation document, and will report in due course.”

Notes

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