You will recall that back in November 2015 we were asked by Arch Insurance, the insurer for our Private Medical Insurance plan, to increase premiums by 15%. This was by no means ideal, and was compounded by a number of changes made to the hospital list.
Since then, we’ve been working tirelessly to overturn this decision, and we’re happy to announce that new business premiums will no longer see the 15% increase, from 1st February 2016. Furthermore, the hospital list will revert back to the more comprehensive version, with loading of only 50% applicable on the Extended Hospital option.
This has been achieved through the securing of a more positive position in terms of claims costs.
The APRIL UK Broker Portal has been updated to reflect these changes, so you are able to submit business or obtain quotes on these terms with immediate effect.
At this point, we would like to remind you that only policyholders who have selected the Extended Hospital list option can access hospitals on that list.
Links to revised literature:
How will this impact renewals?
As a show of good faith, while January renewals have already been completed, should a claim be made, we will assess it against the more favourable list of hospitals. As for both February and March renewals, this week we will be sending out revised renewal letters to all affected policyholders. This will confirm their newly-reduced premiums and include information on the hospital list.
inSpire Private Medical Insurance
Please note that the above does not affect premiums on our inSpire Private Medical Insurance plan. These will remain as previously notified – please see the PMI rates card.
Staying market competitive is central to APRIL UK’s business. With the help of your feedback, we’ve affected what we’re sure will be a welcome turnaround.
We appreciate the inconvenience this will have caused you, but hope that this will come as good news to you all.
If you have any questions, please call your Broker Development Manager, or the Broker Support Team on 0800 073 5330.
