AMII has also been in discussions with Bupa for some time about membership and a verbal agreement has been made, but no contracts have been signed as yet.
Wayne Pontin, chairman of AMII, said: “This move will enable AMII to represent all sides of the industry and become a more unified voice. With insurers on board and a joined up approach, AMII has more power to lobby on issues such as regulation and taxation.”
John Crisford, managing director of Sherwood Healthcare, said: “Having a trade body that is able to represent the PMI industry is essential and AMII have done a good job in this respect. The move to widen membership and include product providers should be welcomed as it allows the body to continue and improve on the excellent work already done.”
Pontin added: “We will now be more financial stable going forward so that we can continue with our work with the CII and the IF7 Healthcare exam as well as promoting intermediated PMI advice.”
The benefits of allowing insurers to become members include:
• A joined up ‘one voice’ approach for the UK PMI market
• Increased funding and stability
• Greater power to lobby for the industry on key issues