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CIS calls for more industry involvement in community

Cooperative Insurance Society is calling for the financial industry to get involved in community initiatives in an attempt to tackle financial exclusion.

It follows the publication of CIS&#39s social report which reveals the public

has a deep mistrust of the industry. Only car manufacturers, oil companies

and the Government were rated less socially accountable than financial


CIS says the industry is still tainted with the fallout from the

well-publicised problems surrounding pensions and endowment mortgages.

Initiatives such as league tables for financial products are seen as steps

in the right direction but the CIS says companies need to take these plans


General manager of marketing Martin Clarke says: “Customers will only

start to regain faith when financial services are fully open and

transparent about what they do.

“If insurance companies are brave enough to have proper social reporting,

then they can go a long way to restoring people&#39s confidence.”


Jupiter chief Duffield quits after dispute

Jupiter chief executive and founder John Duffield is quitting the firmfollowing a dispute with its German parent Commerzbank.Chief investment officer Edward Bonham Carter and group finance directorJonathan Carey take over as joint chief executives.They will be joined on a new executive management committee by head ofspecialist funds Alan Miller and head of international Mark Schueller.It […]

Domicile is coming home to boost

Ten years ago, if someone said they were going offshore you may haveasked them to send a postcard. It is a sign of the increasing globalisationof financial services that your first reaction now may be to ask about thetax advantages.At first glance, you could be forgiven for failing to see the advantagesof investing offshore as […]

&#39Decision trees will turn away over-40s&#39

Providers and IFAs have blasted the FSA&#39s decision trees for activelydiscouraging the over- 40s from saving.At the heart of the problem is the minimum income guarantee, themeans-testing Government benefit, which guarantees a certain income inretirement and which, unlike the state pension, is linked to earnings.Providers believe the Mig has effectively forced the FSA to insert […]

Arctic inflation hits record

Britannic Assurance is flying high this week after its Britannic Challengepilot David Hempleman-Adams became the first person to fly a balloon soloacross the Arctic Ocean.Britannic gave £250,000 to sponsor the flight.The feat is regarded as one of the most dangerous balloon flightspossible. The last attempt was more than a century ago and it ended intragedy […]


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