"We are engaged with those insurers not currently signed up to the Charter to stay close to the improvements that they are making and remain committed to raising standards across the whole industry."
- Neil McCarthy, Chair of the PDG
Last year, fourteen insurers were signatories to the Protection Distributors Group’s (PDG) Claims Charter: AIG, British Friendly, Guardian Financial Services (Guardian), Holloway Friendly, HSBC Life, Legal & General (L&G), LV=, MetLife, Royal London, Scottish Widows, Shepherds Friendly, The Exeter, Vitality, and Zurich Insurance.
For 2024, the list is based on new criteria focused on claim assessment times alongside existing charter requirements, which was fuelled by the PDG’s disappointment with the overall time taken by insurers to assess claims forms and evidence gathered as part of the claims process. At the time, the group highlighted that these delays could cause financial problems for claimants as well as additional worry and distress.
READ MORE: PDG announces signatories to the Claims Charter for 2023
The Claims Charter now requires prospective signatories to assess claims forms within three working days and evidence within five working days. The PDG believes that while this new criterion makes charter status harder to achieve, it’s an important evolution given growing concerns about claim-related service levels across the industry.
In light of this new criteria, this year’s signatories have been slashed by half, with only AIG, Guardian, Holloway Friendly, HSBC Life, Royal London, Shepherds Friendly, and newcomer Aegon making the cut. These signatories will be issued with a 2024 Claims Charter badge to show advisers they have met this year’s criteria.
“In response to concerns about service standards, we have introduced two new criteria to the Claims Charter which we feel ensure that the charter is robust and reflects our commitment to raising standards across the industry,” said Neil McCarthy, Chair of the PDG.
He explained that while the PDG is aware that a number of insurers have experienced challenges relating to service levels, “we are really encouraged by the endeavours that insurers are making to raise standards […] We are engaged with those insurers not currently signed up to the Charter to stay close to the improvements that they are making and remain committed to raising standards across the whole industry.”
