Signposted specialist will help if cover declined for age
The British Insurance Brokers’ Association (BIBA) has told a parliamentary select committee examining the Equality Bill that insurance sellers unable to quote for all risks should signpost an expert who can help, the FT reports.
“Affordable cover is available if the government were to support a signposting solution,” it said.
Biba suggests customers could be “signposted” by the declining company to an independent source of information about competitors who could help. “Our solution does not force insurers to cover areas where they have never dealt in and do not understand – particularly when there is no market failure, it said.”
Biba said price comparison websites, banks and direct insurers were the most likely not to quote for older people and not point them to where they could buy cover.
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