Insurers sign up for Explaining Underwriting Decisions agreement

Developed by the Access to Insurance Underwriting Workstream, the Explaining Underwriting Decisions initiative seeks to establish an industry-wide agreement to providing clear and transparent explanations on underwriting processes and decisions to those applying for life, critical illness and income protection insurance. The agreement will come into force in December this year and commits to recognising that insurers have the same duty of care to potential customers applying for insurance as they do to existing customers. It aims to ensure that people with pre-existing conditions and ...