The FSA has published its Consumer Research Paper No. 77 entitled Post implementation review of ICOBS: Oral Disclosure Rule in sales of Critical Illness Cover – baseline survey (the Paper).
The research explored in the Paper is the first stage in testing whether improved oral disclosure, arising from the implementation of the Insurance: New Conduct of Business sourcebook standards, allows better consumer understanding of critical illness cover (CIC). The Paper sets out the FSA’s baseline data for this analysis (from sales in 2008 Q2) and suggests that many of the disclosure problems found in the FSA’s 2006 mystery shopping study of CIC sales persisted into 2008 and with them the need for better quality oral disclosure.
View Post implementation review of ICOBS: Oral Disclosure Rule in sales of Critical Illness Cover – baseline survey, (PDF 0.98MB), 15 April 2009