This is why we have suggested a Quality Standard to reassure buyers that STIP is a product they can buy safely and which will pay out if they become ill and have answered the application forms correctly. In fact, many people will be aware that I believe we need to be much more subtle and intelligent in our risk selection which should be possible if we face a finite length of claim. My dream is an easy to buy policy that makes sense for insured and insurer and provides vital cover at a fair price. I want the public to realise an honest IP insurer is not a myth like the creation of phlogiston. We have some important principles to uphold that will bring reassurance to the public.
Comment: Toxic PPI and acceptable STIP - how do we tell the difference?
- Thursday 10 May 2012