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AMI gives Competition Commission evidence on MPPI

The Association of Mortgage Intermediaries has provided the Competition Commission with evidence to aid its inquiry into Payment Protection Insurance.

At the hearing, AMI stated Mortgage Payment Protection Insurance is a valuable product if it is sold properly and explained the product is only part of a suite of products which meet consumers’ protection needs. AMI says good advisers will consider all options.

AMI also pushed for PPI to be de-linked from any credit arrangement claiming consumers should not be led to believe that they must buy PPI to access credit.

AMI director general Chris Cummings says: “Good advice begins with an assessment of the consumer’s attitude to risk together with a review of personal and family assets that can be called on if necessary.

“It includes an assessment of any employer’s scheme. An independent intermediary can also explain MPPI’s context within other protection products.”

AMI says it has set out clear requirements to guide its members on how to advise on MPPI.


Lautro 12 verdict could open door on naming firms

The Information Commissioner’s decision to order the FSA to name the 12 endowment providers which misused Lautro projections to set premiums could open the floodgates for similar requests, says a leading compliance consultant.Adam Samuel says the decision, revealed in last week’s Money Marketing, could set a precedent for similar requests to name firms that have […]

James Hay adds Norwich Union and Capita funds to its wrap

James Hay has added four Norwich Union funds and two Capita funds to its wrap platform bringing the total number of funds available to 1,246 from 54 different providers.The new funds include Norwich Union global balanced income Acc, Norwich Union global balanced income Inc, Norwich Union global cautious income Acc, Norwich Union global cautious income […]

LV= not convinced veggies are healthier

Animal Friends Insurance, the pet insurance specialist, is sacrificing a whopping 75 per cent of the commission it receives from its underwriter LV= to finance the life insurance discounts it now offers vegetarians and fish-eaters.

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Absence management systems gone AWOL from UK’s SMEs, reports Jelf

A quarter (23 per cent)* of the UK’s small to medium-sized enterprises (SMEs) do not have an absence management system in place, according to new research from Jelf Employee Benefits. Despite 69 per cent* of organisations having a system in place, three-quarters (75 per cent) report that it is not providing them with sufficiently empowering absence or health data to inform an effective wellbeing programme.


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