View more on these topics

ABI accused of leaving IFAs in dark on CI

Scottish Provident has hit out at the Association of British Insurers for leaving IFAs uninformed on critical-illness insurance developments by not communicating its statement of best practice effectively to them.

The company says it has had numerous calls from advisers who are unsure if they should delay writing protection business until the ABI’s new CI definitions have been implemented.

Many insurers have upgraded their CI policies in light of the changes by adding new conditions and expanding existing definitions.

But ScotProv head of marketing for UK new business Alison Turner-Holmes says the ABI has communicated these changes effectively to providers but advisers have been largely ignored.

She says: “The ABI should communicate better with the industry. Providers are up to date on it but for the poor IFA it is a different story. We have had so many IFAs on the phone asking whether they should be selling critical-illness cover now or waiting until after the changes have been implemented.”

ABI spokesman Jon French says: “We have done as much as we are able to do to ensure that these changes are communicated to the adviser community.

“We represent insurance providers, not intermediaries, and therefore do not have direct channels of communication with intermediaries. I would hope that Aifa passes on these changes to its members.”


Proportional representation

This article concludes my short series discussing key issues within director sharepurchase arrangements by first considering who should pay the premiums under associated life policies and then summarising some of the key stages in establishing the arrangement.

Mazars merges with Aim advisory firm

Mazars, the international financial adviser firm, has merged with MRI Moores Rowland, a London-based accountancy and consultancy business.

On the line

As with investment themes, there are long-term movements in recruitment requirements, within which there are ripples and eddies that are more localised in time and/or geographic location. Knowing where the recruitment market is at any one point in time is useful from both the employees’ or employers’ standpoint, in that it has an impact on […]

What triggers the MPAA?

Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment