Mutuals pay 19 out of every 20 IP claims in 2019

The data shows that 95.1% of income protection (IP) claims were paid across AFM members last year, an increase from 94.4% in 2018. This compares to the 88.1% of all income protection claims paid reported by the Association of British Insurers (ABI) in 2018. The research, which includes findings from 10 member organisations offering IP, shows that they paid out more than £26m in claims to nearly 7,500 policyholders in 2019. It also found that, like-for-like, the volume of claims paid across AFM members has increased by 39% over the past two years. Of the 4.9% rejected claims, the AFM s...