Whether it is being used when comparing Locum Insurance or Surgery Insurance quotations it is so misleading. I will bet that when you see this word your initial thought is that what is being compared is a true comparison and up to date. WRONG – What it does mean is that the person/company who is using the “LATEST “policy wording or definitions which could be light years away from what is currently being used.
Why is it done? One explanation that I have recently seen is “to help you to make an informed judgement”. Where is it used? Usually when comparing Locum Insurance products. The reason? My bet is to kill off competition.
I must admit I find it difficult to understand what is going through the sales persons mind when they are using such a tactic. It is misleading and could cost the person/practice £000s
It becomes a little better when the comparison is made when using the details from the policy document that the client may have. But still this is not 100% accurate. At Medical Insurance Consultants we reassess the cover that we offer and the premiums that we charge for Locum Insurance at least once a year.
This has been the “LATEST” comment! – Beware