Lifesearch has called on the Association of British Insurers to lead an industry ad campaign to raise consumer awareness of the protection gap and improve perception of the sector.Managing director Tom Baigrie says the industry has to tackle the lack of public demand for protection but says distributors do not have the financial resources for a campaign. He says many ABI members, particularly the big insurers, do have the means to finance such a project. Baigrie believes the ABI is in the perfect position to co-ordinate efforts. Baigrie says: “We and our fellow distributors would love to be in a position to spend the millions of pounds needed for a long-term effective national, generic advertising campaign which would convince customers to buy protection, but we cannot. “The ABI members working together could do this though. Have they enough passion for protection, I wonder?” An ABI spokesman says: “There has been an informal enquiry from Lifesearch which we have not yet responded to. We will take a look at any formal proposal put forward by the industry.”
The Derbyshire (Isle of Man) is launching a new 18-month fixed rate bond.The new 18-month Manx bond from the Derbyshire is paying a guaranteed rate of 4.55 per cent gross/AER. This rate, along with the other fixed rate options of the 1-year Manx bond at 4.60 per cent, 3-year Manx bond at 4.50 per cent […]
The Financial Services Skills Council is to lose one in seven of its workforce due to restructuring and a change in Government policy. The FSSC, which provides leadership for training, education and development in the industry, is reducing staff numbers from 35 to 30. It says the move results from a change in Government policy […]
Child trust funds are changing saving behaviour, with more parents saving more money towards their children’s future, says The Children’s Mutual. The company says it has seen an increase of 50 per cent in the number of new parents saving for children than before CTFs were introduced. Before the launch of CTFs, research from The […]
The merger of Britannic Group and Resolution Group has been approved by the FSA. The new closed life fund consolidator will now be called Resolution plc.
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