Our thoughts

By Gary Bundock and Tom McCarthy It is interesting (well, we think so) to reflect on how evidence requirements differ from market to market. In some places – and the UK is a good example – one can buy what might seem a huge amount of cover on the basis of an application form only. Yet elsewhere virtually every application, certainly for pure life cover, needs a medical exam of some kind. And often, lab tests and maybe an ECG as well. The considerable differences between markets in terms of underwriting practice are due to a variety of factors, such…

By Peter Maynard I always remember being told, early in my underwriting career (I’ll leave you to guess when that might have been), that it was the duty of the underwriter to accept as many cases as possible at the ordinary (standard) rate of premium – while maintaining equity between policyholders, of course. This was in the interests of inclusivity: making affordable insurance available to as wide a group as possible. And in many markets, certainly the UK, that goal was faithfully achieved: 95% (or even more) of applicants accepted at standard, 1% or less declined or postponed, and the…