BGL simplifies rate change processes ahead of EU gender ban

BGL guarantees premiums to customers for a period of 30 days, meaning all rate changes needed to be completed by 21 November.

The intermediary advised its 28 insurer partners that they had the ability to bypass the usual process for making these changes and instead would change rates on an ad-hoc basis.

BGL’s insurer partners have also been given the opportunity to make more frequent amendments to their rates post November 21, in order to reduce any exposure caused as the new rates take effect