Medical insurance boosted by big companies

Despite the difficult economic climate the number of those taking out private medical insurance held firm last year.

10:04 21 May 2004

Despite the difficult economic climate the number of those taking out private medical insurance held firm last year.

This is according to figures released yesterday by the Association of British Insurers.

They said the maintaining of figures was due to modest growth in the corporate subscriptions market.

The total number of private medical policies reached 3,713,000, and the number of corporate health policies grew to 2.6 million.

The head of health at the ABI, Richard Walsh, commented on the figures, saying: "It is particularly impressive that total business remained stable even at a time of economic downturn."

He added: "The 2003 figures confirm the pattern of slightly declining sales of personal policies, coupled with long-term growth in corporate sales."

Mr Walsh made clear the point that: "By taking out health insurance for their staff, employers are contributing to better healthcare for the nation as a whole."

He said the 2.6 million contribution by private medical insurance has helped reduce NHS waiting list times for hundreds of thousands more people.