Leading UK protection and health insurer, The Exeter, has today announced that it will be returning a total of £5.3 million to its health insurance members. The rebate will see members receive an average return of £346 per policy, equivalent to two months’ premiums (excluding insurance premium tax).
With many private hospitals requisitioned by the NHS during the pandemic, some independent hospital services were disrupted. Thankfully, many of the treatments that members needed continued, such as those for critical cancer and heart care. However, other non-critical treatments were delayed, meaning that The Exeter did not receive the level of claims it expected across 2020 and 2021.
As a result, The Exeter will be sending a rebate to its UK health insurance members, passing back any unexpected financial saving arising from COVID-19. This includes refunding partial premiums to those who cancelled or changed their cover in 2020. The Exeter will contact members over the coming weeks to explain how they will receive their payment.
Isobel Langton, CEO at The Exeter, comments:
“We would like to thank our members for their loyalty and patience throughout this difficult period. As a mutual, our members are at the forefront of every decision we make. That’s why we are delivering on our pledge to give them a fair return on their premiums in light of the impact the pandemic had on health insurance claims."
“Throughout the pandemic we have invested in providing our members with health services from home, including virtual access to specialist consultations via our HealthWise app and our clinical support centre. We remain as committed as ever to delivering the best outcomes for our members and encourage them to continue to seek the advice and treatment they need.”
Notes to Editors
Taneesha Pawar, Rostrum
D: +44 (0) 203 404 7733
About The Exeter
The Exeter is a leading protection and healthcare insurer who have been supporting UK families in the event of ill health or injury since 1888.
Formerly known as the Exeter Friendly Society and Pioneer Friendly Society, The Exeter is a mutual friendly society. This means it is owned by members and run for their benefit, rather than shareholders.
The Exeter is a trading name of Exeter Friendly Society Limited, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Register number 205309) and is incorporated under the Friendly Societies Act 1992 Register No. 91F with its registered office at Lakeside House, Emperor Way, Exeter, England EX1 3FD.