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New figures from the Association of British Insurers show that there was a 2.7 percent increase in the number of people with private medical insurance last year.
Increasing numbers of British consumers are signing up to private medical insurance (PMI), according to new statistics from the Association of British Insurers (ABI).
The ABI revealed that in 2008 6,224,000 people are covered by either corporate or personal PMI, while an additional 1,111,000 were protected under Healthcare Trust arrangements - a total of 7,335,000 people. This figure is up by 2.7 percent on 2007.
ABI director of general insurance and health Nick Starling said the figures were "good news".
"PMI gives people the peace of mind that they are able to get access to the treatment they need, at the time they need it, where they need it," he added. "PMI is good for companies and the economy because it enables employees to get back to work after illness or injury as quickly as possible. This is why there has been a continued rise in the number of people covered by corporate policies."
Private medical insurer Bupa responded to the figures by releasing research of its own. The firm discovered that many consumers are turning to PMI because NHS waiting times are too long and they are concerned about superbugs and general hospital hygiene. The NHS recently hit its 18-week waiting time target, but Bupa claimed that this is not fast enough for today's "instant-access society".
From: Money.co.uk 27 April 2009
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