WHO’S BENEFITTING FROM INSURANCE PAYOUTS?

NEWLY published insurance industry figures reveal that £55 billion was paid out to customers in 2017 – with hundreds of millions of pounds being paid out every day, typically to help people get their lives back on track and to support them in their retirement.

The money was paid out by the UK’s general insurance and long-term savings companies, and includes a record £766.5 million to help people with the cost of treating ill or injured pets.

Malcolm Tarling, Association of British Insurers (ABI) spokesman, says: “Insurers exist to provide peace of mind, stepping in to help should the worst happen, as well as helping provide long-term financial security for you and your family.”