Gov't-Backed Insurance Support Plan for Elderly Is Renewed
Law360, London (November 6, 2019, 12:16 PM GMT) -- More than 700,000 elderly people who have been denied insurance based on their age have been referred to an alternative provider under a government-backed initiative.
The British Insurance Brokers’ Association said on Wednesday its seven-year-old "signposting" agreement with other industry bodies and the government was renewed again in October for four years.
The service is designed to overcome problems faced by older people who cannot get motor or travel insurance because their age makes them a high-risk prospect for insurers. Under the agreement, an insurer or broker that rejects an older customer will refer them to a specialist provider who can offer insurance....
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