Today the Association of British Insurers (ABI) and Department for Health and Social Care announced the new Code on Genetic Testing and Insurance. The Code replaces the Concordat and Moratorium on Genetics and Insurance.
The Code reflects the provisions set out in its predecessor and will be reviewed every three years. In contrast to the Concordat and Moratorium, the new Code of Practice has no end date.
The financial limits for life insurance, critical illness and income protection products have not changed, and Huntington’s Disease remains the only exempt illness (but only for applications for life insurance above £500,000).
Our Chief Executive, Jayne Spink, has welcomed the publication of the new Code;
‘By setting out the limited circumstances under which the use of predictive genetic tests by insurers is permitted, the Code helps to protect the customer’s right to insurance and address the concerns that might otherwise deter individuals from taking genetic tests. In contrast to the previous Concordat and Moratorium, the Code will continue indefinitely. This means that individuals considering whether or not to take a predictive test can do so without the unnecessary complication of worrying about whether this agreement with insurers will come to an abrupt end.’
For a look at the Code itself, please visit our dedicated webpage on it, and we also have a range of other information surrounding genetic conditions and insurance available.