|
|
Article: Norwest speaks out on lack of experience.(Harry Katz on life insurers)(Brief Article)
- Article from:
- Financial Advisor
- Article date:
- September 8, 2005
CopyrightCOPYRIGHT 2005 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
CLAIMS experience is suffering considerably because life insurers are desperate to cut costs, according to an IFA.
Harry Katz, director of Middlesex-based Norwest Consultants, said that liaising with companies when claims were submitted and processed had become increasingly worse in the last couple of years.
He said: "Life insurers are desperate to cut costs, and claims experience is beginning to suffer as a result. It varies from company to company, but the signs are there. It has definitely got more difficult to claim in recent years."
Mr Katz said recent dealings with specific life offices such as Scottish Provident convinced him that ...