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A Weeks Moment

Debra Weeks of the ABI claimed recently on BBC News that up to 50 per cent of all insurance claims were fraudulent.

What grounds are there for assuming that least 50 per cent of all so-called “misselling” claims are dishonest, especially when they cannot be tested in the courts?

There is surely room for class actions against consumer organisations such as the Consumers&#39 Association, whose reference book, Which Way to Buy, Own and Sell a Flat, written by Michael Haley in 1996, argued that endowment mortgages were better under some circumstances while stating on page 31 that “there is no guarantee that the policy will provide a surplus lump sum on maturity or even that it will be enough to cover the capital”. How can CA members claim compensation after that?

Above that, the increasingly distressful letters from Money Marketing correspondents over the abuse of regulatory power need to be addressed by a different form of Government, by any party, which secures democratic election but then behaves dictatorially, pushing through legislation and regulation without concern for consensus by taking account of all opinions and experience outside of the narrow party confines.

Proportional representation would be a start to limit the power of prime ministers to call wars and govern without concern for all constituents.

Roy Bennett




Location annuity is still in the post for Norwich Union

Norwich Union is putting plans for a postcode annuity on hold and says any decision on the product will not be made until 2004.The life company first mooted the idea of an enhanced annuity based on where people live last June, but says concerns over the complexity of the project mean geographical factors will not […]

Independent view

The single biggest problem facing IFAs today – what might that be? I imagine that many might think it is professional indemnity insurance.After all, it is difficult to get. Premiums are massively higher than they have been in previous years and excesses are such that IFAs are self-insuring and paying a premium. Only the biggest […]

Portman and Sun Bank merge teams

Portman Building Society and specialist lending subsidiary Sun Bank are combining their intermediary sales teams although Sun Bank will remain a separate operation with its own staff, branding and product range. The new team of 12 will be headed by associate director (group intermediary sales) Paul Howard.

Opra reappoints Edmans and Beaver to its board

The Occupational Pensions Regulatory Authority has reappointed Aegon director of corporate development Laurie Edmans and Mercer actuary Wendy Beaver to its board. In addition to the appointments by secretary of state for work and pensions Andrew Smith, Joanne Segars, Hugh Brown and Mike Jones have had their board positions extended by six months. The Government […]


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