A.i.d.s.-related Claims Top $1.5m. (Press, 24 November 1989)
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Summary: A.i.d.s.-related Claims Top $1.5m. (Press, 24 November 1989)
On 24 November 1989, it was reported that A.I.D.S.-related life insurance claims in New Zealand exceeded $1.5 million over the previous year. Mr Boyd Klap, the chief executive of the Life Offices’ Association, disclosed that there were 50 A.I.D.S.-related claims involving 31 individuals, resulting in total payouts of $1,538,530 by September 30, 1989. The majority of these claimants were men aged between 30 and 40. Mr Klap indicated that the insurance industry recognises A.I.D.S. as an increasing risk. Dr Susan Davison, the projects manager for N.Z.1., contributed to the report by highlighting the difficulties insurance companies face in estimating the impact of rising A.I.D.S. cases. She noted that options for guaranteed insurability may become restricted, often relying on satisfactory A.I.D.S.-related tests and other medical and personal information. Furthermore, she mentioned that exclusions related to A.I.D.S. and H.I.V. might be commonly applied, particularly in types of insurance such as group life, disability, mortgage repayment, and direct-marketed policies. This could lead to a rise in non-guaranteed premium rates. Dr Davison assured that individuals holding existing life insurance policies would continue to be covered even if they were later diagnosed with A.I.D.S. She also pointed out that many insurance companies had begun requiring H.I.V./A.I.D.S. testing as a prerequisite for obtaining specific levels of coverage. However, she cautioned that the capability of people to carry the H.I.V. virus for several years without testing positive for antibodies could diminish the effectiveness of some tests.
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