View more on these topics

Axa and CBK clash over online application

Axa has come under fire over an online application form for life and critical-illness cover.

An Axa broker salesman told CBK principal Peter Chadborn to tick a box on its online application form confirming that his client was present when the form was being filled out when they were not.

Chadborn says CBK encourages clients to fill out application forms in their own time and send them back. An office manager then enters their answers online.

But Axa’s online application form demanded that a box was ticked confirming that the client was present. Chadborn contacted Axa, which advised him to tick it and submit the case online and forward the signed paper application.

Chadborn says: “I am not satisfied because, first, we would be making a declaration that we know to be false, second, should there be a non-paid claim or complaint in the future, we have created a weak link in the process upon which the outcome could hinge and, third, all we would have for protection would be a phone conversation with an insurer telling us that this would be OK, with no security or reassurance.”

Axa spokesman Peter Webb says: “We would not want any situation where an adviser is ticking a box confirming something that is not true so we will be looking into this.”


L&G launches online underwriting guide for advisers

Legal & General is launching an online guide which will provide advisers with information on its underwriting and claims policies and procedures.The guide, Underwriting and Claims Solutions, will cover protection products such as life insurance, critical illness cover and income protection and aims to help tied and independent advisers submit complete and accurate applications and […]

Threesixty says IFAs must make voice heard on RDR

Threesixty is urging IFAs to respond to the retail distribution review and warns they should not dismiss it as merely a discussion document.The support service firm says the FSA’s proposals will bring unprecedented change to the IFA sector. A market report, unveiled at the group’s annual conference in London last week, says: “The RDR cannot […]

Own goal

It is not for the regulator to decide if my client pays commission or fees

FSA confirms Nationwide and Portman merger

The Financial Services Authority has confirmed the proposed merger of the Portman Building Society to the Nationwide Building Society. The regulator received 22 written representations and three people made oral representations at the hearing held in Bournemouth on June 7.

Retirement - thumbnail

Pension freedoms: stop the scams

At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm