ABI releases 'Guide to Minimum Standards' for CIC

The Association of British Insurers' (ABI) has replaced its ‘Statement of Best Practice for Critical Illness' from 2014 with the ‘Guide to Minimum Standards to Critical Illness Cover' featuring a number of key changes to guidelines for definitions.   Changing the name because ‘insurer offerings have improved', the ABI regard the new model wordings as the ‘minimum standards' that must be applied by no later than February 2019. HIV, terminal illness and thyroid cancer Among the most significant changes, HIV has been deleted as a CIC definition so that firms may adopt the wording ‘the...