Economic abuse – what can the insurance industry do?

Author: Alice Merry for Surviving Economic Abuse
Date: March 2023

“He took out life insurance on me. I tried to beg him to cancel the policy. I had to contact the insurance company, change the direct debit payments to my bank, then default to get it stopped.” - Victim-survivor of economic abuse

Insurance protection is vital for financial security, and it is important that it is made accessible to vulnerable customers. However, many victim-survivors of domestic abuse find themselves unable to access and benefit from insurance. They face barriers to accessing insurance, unfair rejection of claims or even having insurance used against them to create fear and intimidation.

In order for the insurance sector to better protect victim-survivors, there is a need for a fuller understanding of economic abuse across the industry. This would enable products and processes to be adapted to support victim-survivors.

To support the industry to take action, Surviving Economic Abuse, with funding from the Aviva Foundation, published a new briefing on victim-survivors’ experiences of insurance. The briefing is based on interviews with insurance industry stakeholders, data provided by Aviva plc and testimonies of victim-survivors of economic abuse. It also includes a set of practical recommendations, developed with experts from the industry, for the industry as well as individual insurers.

Read the briefing here.