I am writing to clarify Bupa’s policy relating to the recent terrorist incidents for both Jim Gillespie of Independent Financial Services (August 11) and your readers.Bupa will do all it can to help customers affected by recent terrorist incidents in London and Egypt. In the UK, the best place for people injured in terrorist incidents such as the recent London bombings is the nearest NHS accident and emergency department. Bupa UK PMI does not cover injuries sustained by acts of terrorism. That said, we have honoured all of those claims received as a result of the recent London bombings and our international PMI business has repatriated two Spanish nationals back to Spain following the recent Egypt attack. Our life insurance, critical illness cover and income protection policies do not have any exclusions for people affected by terrorist incidents. Advisers should recommend the most appropriate level of cover for each individual’s needs. While the threat of terrorism in the UK is high, the incidence of terrorist attacks is low. Although terrorist cover is available, premiums will reflect the increased level of insurance risk. ANN GREENWOODDirector business markets, Bupa
The investigation being conducted by HMRC’s offshore fraud projects team does not mean that UK investors cannot hold offshore accounts but individuals who are resident and domiciled in the UK must report their offshore accounts to HMRC.
Under the current draft- ing of the Pensions Act, trus-tees of these types of pension schemes will need to understand pension legislation, investments, scheme documentation and tax reporting by A-Day. But Standard Life has been told by the Pensions Regul- ator that trustees of EPPs and SSASs will be exempted, with an announcement expected soon. […]
Whoever will be entering the frame of financial services next?
JPMorgan Asset Management has re-structured its UK sales team.Alex Barry has been appointed as head of UK distributor sales with a team of three reporting to him, while Dan Mannix has been appointed head of JPMAM’s wholesale channel. He will oversee sales to discretionary clients.
A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]