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FMO to offer 'special risks' service

Amanda Jarvis

March 31, 2006

It is also available to people who are involved in dangerous hobbies, pastime or sports.

The Insurance Surgery join FMO’s Pure Protection and General Insurance panel to offer IFA’s and Mortgage Brokers access to a turnkey service to handle unusual risk clients from initial enquiry through to policy inception.

FMO offers Directly Authorised Mortgage Brokers and IFA’s, and Appointed Representatives from Networks access to a service for their clients with medical conditions or occupations and pastimes that cannot obtain insurance policies at standard premium rates. Policies include Life and Critical illness, PHI, Private Medical Insurance, Travel Insurance and Motor Insurance products.

Alan Hill FMO’s Group Managing Director said, “The pure protection and general insurance market is now a very sophisticated one using medical data and hereditary illnesses to identify people presenting a higher risk, or higher probability of ill health or potential life threatening illnesses. With each Insurer assessing a myriad of illnesses and occupations, there is a huge variance in the premium loadings and the premiums can vary vastly between Insurers for the same conditions. For example, one insurer may load a condition by as little as 30% on standard premium, whilst another could load the same condition by over 200% or even decline cover altogether.

Advisers should use an expert with access to the data required to accurately place these unusual risk cases for the 1 in 10 that occur and let them take the responsibility for ensuring the correct information is accurately attained, let them assess the insurance companies that are likely to provide cover. The introducing adviser is likely to receive about the same commission as for a standard terms policy.”


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