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UK life insurers can improve processes for terminally ill customers, regulator finds

( October 2, 2023, 10:53 GMT | Official Statement) -- MLex Summary: A review of UK insurance companies’ approaches to terminal illness benefits shows scope to improve, even if insurers aren't routinely delivering poor outcomes, the Financial Conduct Authority has said. With claims taking two to three months or longer to reach a decision, all insurers could speed up decisions for customers with fewer than 12 months to live, the regulator said. It also found poor communications that led to increased customer distress and said all communications must take account of the vulnerability of terminally ill customers.Review below...

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