A major agreement between insurers has resulted in a significant drop in complaints on critical illness insurance, according to the latest FOS (Financial Ombudsman Service) Annual Report. The ABI Code of Practice on long-term protection forms part of the ABI’s Consumer Strategy, which puts consumer interests at the heart of what the ABI does. The Code guarantees that all ABI members treat customers fairly when dealing with claims where they had unintentionally failed to tell their insurer a relevant piece of information when they applied for their policy.

As well as the FOS reporting fewer complaints on critical illness insurance, of the complaints that do go to the FOS, they are now finding that the insurer has acted fairly in more cases.