capaDATA
  • PERFORMANCE
    • Younger saver, 30 years to retirement – 5-year annualised returns
      • Line chart
      • Bar chart
    • Younger saver, 30 years to retirement – 3-year annualised returns
      • Line chart
      • Bar chart
    • Younger saver, 30 years to retirement – 1-year annualised returns
      • Line chart
      • Bar chart
    • Older saver, 5 years to retirement – 5-year annualised returns
      • Line chart
      • Bar chart
    • Older saver, 5 years to retirement – 3-year annualised returns
      • Line chart
      • Bar chart
    • Older saver, 5 years to retirement – 1-year annualised returns
      • Line chart
      • Bar chart
  • RISK/RETURN
    • Risk/Return – Younger saver, 30 years from retirement, 5-year annualised
    • Risk/Return – Younger saver, 30 years from retirement, 3-year annualised
    • Risk/Return – Younger saver, 30 years from retirement, 1-year annualised
    • Risk/Return – Older saver, 5 years from retirement, 5-year annualised
    • Risk/Return – Older saver, 5 years from retirement, 3-year annualised
    • Risk/Return – Older saver, 5 years from retirement, 1-year annualised
  • PROVIDERS
    • Aegon Master Trust
    • Aon Master Trust
    • Atlas Master Trust
    • Aviva Master Trust
    • The Bluesky Pension Scheme
    • Ensign Retirement Plan
    • Fidelity Master Trust
    • Legal & General Investment Management – WorkSave Pension Mastertrust
    • LifeSight (Willis Towers Watson)
    • Mercer Master Trust
    • National Employment Savings Trust (NEST)
    • Now: Pensions
    • The People’s Pension
    • Salvus Master Trust
    • Scottish Widows Master Trust
    • Smart Pension
    • Standard Life DC Master Trust
    • SuperTrust UK Master Trust
    • TPT Retirement Solutions
    • Welplan Pensions
  • Research
    • ADVISERS
      • Pension provider selection factors
      • Switching
      • Diversification
      • Illiquids
      • ESG
      • Green
      • Digital
      • Consolidation
    • PROVIDERS
      • Master Trusts by number of members
      • Master Trust defaults by assets and number of employers
      • Member charges
      • Employer charges
      • Master trust investment advisers
      • Equity exposure
      • Derisking
      • Asset managers used
  • NEWS
  • MORE
    • About
    • Advertise
    • Contact us
    • Privacy policy
    • Content syndication
    • Terms & Conditions
CAPA
No Result
View All Result

WPA offers second rebate to policyholders

24 June 2020
Covid-19 excluded from critical illness claims –  CA group risk Covid round table
Share on TwitterShare on FacebookShare on LinkedIn

Health insurer WPA is giving a second premium rebate to its PMI customers which will be paid by the end of June.

It is expected this will be worth a total of £3.7m, a similar amount to the rebate offered in April  to reflect the reduction in claims as a result of Covid-19 and reduced access to elective care. 

Private hospital providers have made facilities available to the NHS to help cope with the increased demand due to coronavirus. This has restricted access to non-emergency operations and treatment available under corporate PMI plans.

WPA was the first insurer to announce it was paying a rebate. Other insurers have followed suit, although not all are making payments at present. A number of larger insurers have said they will calculate any rebate over a two year period, as claims are expected to rise steeply once the immediate crisis is over. 

WPA chief executive Nathan Irwin says: “The lockdown period from March to June restricted healthcare in both the NHS and private sectors. 

“This meant that customers with clinically urgent requirements were still able to access care, but less serious procedures were postponed. 

“Across all of our customers, the April payment totalled £3.7m and this latest payment will be similar.”

He says lockdown restrictions easing and private hospitals increasing the number of routine procedures, the company expects there will be a significant backlog of postponed treatments and claims will begin to rise quickly. 

He adds: “We remain committed to not profiting from this pandemic and will observe claims levels over the coming months before determining whether any further rebates are appropriate.”

The NHS/private hospital contract is due to finish at the end of June although NHS use of private facilities is expected to extend into a second contract. On a practical level, it is likely that the availability of private facilities will vary by hospital and by region over the coming weeks. 

WPA are continually working with the private hospital networks to facilitate access for customers and have confirmed that Covid-19 antigen tests will be covered where this is required as part of a treatment plan.

The post WPA offers second rebate to policyholders appeared first on Corporate Adviser.

TweetShareShare
Previous Post

ABI calls for flat rate pension tax relief

Next Post

Insurers give “cautious welcome” to calls for pension tax relief reform

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

Category

  • By Provider
  • News
  • Not for search
  • Provider page archive
  • Uncategorized
  • video
CAPA data

© 2019 Definite Article Media Limited. Design by Bedazzled Media Limited.

  • About
  • Advertise
  • Contact us
  • Privacy policy
  • Syndication

Follow us

No Result
View All Result
  • About
  • Advertise
  • Contact us
  • Privacy policy
  • Syndication

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.AcceptReject Read More
Privacy & Cookies Policy
Necessary
Always Enabled