AFM members paid out 94% of IP claims in 2021

The pay out level of 94.1% last year represents a minor increase on the total volume of claims paid out on in 2020 (93.9%). While pay outs on IP claims were made to around 10,300 policyholders throughout the year, including nearly 8,200 new claimants, there was a 17% year-on-year decrease following a spike of new claims made in 2020. The AFM noted that Covid related claims accounted for 20% of all claims last year, compared to around 25% in 2020. The value of claims paid out fell by 7% in 2021 compared to the previous year, with the AFM stating that this indicated "a larger volume ...