By Adam Saville 30 April 2018.
'Record' £5bn in total pay-outs for last year and £1.6bn paid out for group risk, according to ABI and GRiD.
Another ‘record-breaking' year has been recorded for the protection industry, as figures from Association of British Insurers (ABI) and Group Risk Development (GRiD) reveal a total of £5bn in claims paid in 2017 - an increase of more than £340m on last year.
The total percentage of claims paid for the year was 97.8% and £13.9m was shelled out for income protection, critical illness cover and life assurance.
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