ABI backs PMI proposals

The ABI has urged the industry to support the General Insurance Standards Council (Gisc)'s consultation on practice requirements for private medical insurance (PMI).

The Gisc's PMI Working Group and the ABI's PMI panel has formulated a Practice Requirement, designed to help consumers distinguish between PMI products. Both insurers and intermediaries will be subject to the Requirement, which will be incorporated into Gisc regulations. The industry is hoping that the Financial Services Authorit