Following new medical evidence about two rare forms of cancer, the ABI (Association of British Insurers) has amended its Statement of Best Practice on Critical Illness Cover to make it clear that those cancers will be covered by Critical Illness insurance. Both existing and new customers will benefit from this change.

Richard Walsh, the ABI’s Head of Health and Protection Insurance, said:

“When the Statement of Best Practice was revised in April 2006, it included as examples of pre-malignant cancers, which are not covered by Critical Illness insurance, the two very rare conditions – ‘essential thrombocythaemia’ and ‘polycythaemia rubra vera’. Both are cancers affecting the blood.

“New medical evidence has since come to light which suggests that the two cancers may, in fact, be malignant. The ABI Protection Committee has carefully considered all the evidence and has decided that the two cancers will be covered by Critical Illness insurance. To avoid any confusion, they will be deleted from the Statement of Best Practice cancer definition as examples of pre-malignancy.”

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Notes

1.            Enquiries to:       

         Alan Leaman    020 7216 7440 (Mobile: 07957 482 330)

         Jonathan French   020 7216 7392 (Mobile: 07958 330 480)

         Malcolm Tarling    020 7216 7410 (Mobile: 07776 147 667)

         Lucy Butler        020 7216 7411 (Mobile: 07712 841 184)

         Kelly Ostler        020 7216 7415 (Mobile: 07968 364 302)      

2.            The full statement issued by the ABI can be downloaded by clicking on the link below.

3.            The effect of this change is that all existing and new Critical Illness insurance policyholders will be covered if they are diagnosed with essential thrombocythaemia or polycythaemia rubra vera. However, it is important to note that, while the ABI Statement of Best Practice sets out categories of conditions that are, and are not, covered by CI insurance, it is entirely down to individual member companies to evaluate individual claims and decide whether or not they should be paid. Given the latest medical evidence, the ABI’s recommendation is that companies should amend their claims philosophy and also treat as valid any claims for these conditions under policies bought before the new 2006 definition was launched.

4.            The ABI is the trade association for Britain’s insurance industry. Its nearly 400 member companies provide over 94% of the insurance business in the UK. It represents insurance companies to the Government, and to the regulatory and other agencies, and is an influential voice on public policy and financial services issues. ABI member companies hold up to a sixth of all investments traded on the London Stock Exchange, on behalf of millions of pensioners and savers.