Axa has abolished automatic GP report limits for people under 45 applying for life or critical-illness products. Automatic GPR limits for income protection applications by under-45s will increase to £50,000.
Citigroup has appointed former US Treasury secretary Robert Rubin as chairman and former Schroders chief Sir Win Bischoff as temporary chief executive following the resignation of Charles Prince III. Citigroup says it must write down an extra $8bn-$11bn in leveraged and sub-prime loans.
Fortis is planning to enter the protection market with a combined life, critical-illness and income protection plan.Sources say the plan will automatically top up to the full sum assured after paying out on a critical illness or income protection claim.Money Marketing understands the product will have a maximum sum assured of £250,000 and will be […]
Aegon director of risk and regulation Graham Dumble is leaving the firm after 30 years.Dumble joined Scottish Equitable in 1977 and was managing director of Aegon’s life and pensions business division from 1999 until October 2005.He moved to head its risk and regulation team, also responsible for industry affairs, legal and property, following a restructure […]
Sam Shaw is a reporter on Money MarketingWith Money Marketing Live being held in the motherland of Manchester this week, I took the opportunity to tag my train journey onto the back of a weekend visiting the parents and a few friends. The G-Mex was once again filled with many an IFA scurrying around to […]
New research has proven the positive impact that protection, health and wellbeing (PH&W) benefits have upon a business.
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Alliance Trust Savings’ new boss must “instil common sense” across the business and start to engage with advisers if they are to salvage the platform’s reputation, IFAs have said. Industry insiders have welcomed news of ATS chief executive Peter Mill’s departure, but say the platform needs to move quickly to fix its service issues. Frustrated advisers are […]
The FCA has said that the Financial Ombudsman Service does not need more guidance on how it should match the regulator’s rules with the complaints adjudicator’s judgments. While the FCA regulates firms according to its handbook, FOS decides on complaints based on a ‘fair and reasonable’ test, that is, whether the claim would be successful […]
The curious goings-on in the world of financial services