Major insurers snubbed by claims charter after falling short on 'best practice'

During the pandemic, issues regarding claims standards among insurers started to creep up, according to Protection Distribution Group chair, Neil McCarthy.

“There is no doubt the past two years have been challenging for insurers, particularly with regard to claims handling,” he said.

“There was a sense among the group's members that claims standards had slipped during the pandemic, and that there was therefore a need to investigate this to ensure the robustness of the charter.”

Insurers which joined the charter this year included Aegon, AIG, British Friendly, Guardian, Holloway, HSBC Life, Legal & General, LV=, MetLife, Scottish Widows, Shepherds Friendly, The Exeter, Vitality and Zurich.

ruby.hinchliffe@ft.com