New Burgesses launch
INSURANCE TIMES - 30TH APRIL 2003
Controversial underwriting agency, Burgesses, is launching a non-discriminatory income payment protection insurance policy for gay men and women.
Burgesses’ Pride Without Prejudice includes cover against the risk of Aids and HIV which managing partner, Simon Burgess, claims is a world first.
The policy protects against disability, unemployment – or both – and is available to all UK residents aged between 18 and 61 provided they are employed, self-employed or in contract work.
It pays a maximum monthly benefit of £2,500 or 75 per cent of average earnings for up to 12 months after a waiting period of only 30, 60 or 90 days.
Premiums start at £3.25 per £100 of monthly benefit, no occupations are excluded.
And there is no need for a medical examination.
Pride Without Prejudice is underwritten at Lloyd’s and is fully compliant with ABI guidelines.
Burgess comments: “It has been suggested that offering HIV cover to gays is financial suicide.”
“Gar from it. Carve away the prejudice and assess the risk.
“This is minimal and, therefore, it can be absorbed within our standard rates.
“Despite the continued problems that we encounter form our industry colleagues and the insurance regulators, we will continue to offer non-discriminatory insurance to marginalised persons.”
