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ABI wants ‘E-number’ approach to menu

The Association of British Insurers is calling for a radical simplification of the pay- ment menu to follow the label- ling requirements for food packaging.

Head of distribution Alex Roy says the current menu design is too complex for consumers and the association believes that simple, visually appealing labelling echoing the Food Standards Agency requirements on food packaging should replace it.

He says the ABI will make the suggestion as part of its response to the forthcoming FSA consultation paper on reforming Cob regulation which will also cover the menu and initial disclosure document.

Roy says: “We would like to see the menu simplified in a visually effective way similar to the labelling on food packaging to ensure better consumer understanding.”

Aifa director general Chris Cummings says he agrees that there needs to be a radical simplification of the payment menu to give consumers a clearer view.

He says Aifa’s proposals will call for a complete overhaul of disclosure to ensure understanding of where consumers’ money is going.

Cummings says a simpler system will help defend the industry against consumer lobby calls for commission to be scrapped and a new classification regime of costs would counter the “lazy” use of the word commission.


Halo hello for pta

Amanda Newman says the new deal for pension term assurance has seen the product make a major impact in the protection market but some brokers have misgivings

Kayes quits Tenet at the top

Tenet chairman Barry Kayes is leaving the firm, saying he would rather go out on a high than “do a Tony Blair” and outstay his welcome. He has been chairman since 2000 when the Tenet Group was formed from the 17m management buyout of M&E and Interdependence. Kayes, who is expected to seek another position […]

Fastest house price rise in four years, says RICS

House prices rose for the eleventh consecutive month at the fastest pace in four years, according to RICS’ UK housing market survey.The report revealed that 45.1 per cent more chartered surveyors reported a rise than a fall in September, up from 34.9 per cent in August. RICS estate agents reported that price are rising because […]

Domestic science

All three Adviser Fund Indices are underweight in UK equities compared with the corresponding Apcims portfolios. At the last rebalancing point in May, the Aggressive and Balanced AFIs had allocations of 45 per cent in domestic shares, with the Cautious AFI on 35 per cent. This compares with weightings of 55, 50 and 47.5 per […]


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