The Exeter to pay out £5.3m rebate to health insurance members

Protection and health insurer, The Exeter, will be returning a total of £5.3m 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, said: “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.”