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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Financial advisers need to engage in less systematic risk tolerance testing to position clients for high investment returns, according to risk profiling firm Oxford Risk. Speaking at a FinaMetrica/miPlanPlus event today, Oxford Risk head of behavioural finance Greg Davies says suitability across the industry is “rife with poor practice”. Davies says the most common adviser […]
The FCA is attempting to ban the boss of a debt management firm for allegedly using client money to purchase the business. Darren Lee Newton purchased First Step from former director Christine Whitehurst in 2013. The FCA argues he funded the deal through client money rather than out of his own pocket. Newton allowed more […]
One week out from implementation, our research shows only around half of advisers are 100 per cent confident they are ready for the General Data Protection Regulation. GDPR represents the biggest ever change to how personal data is collected and handled. The fundamentals are quite simple: to give individuals more control over how their personal […]