The new Department of Work and Pensions' chief medical adviser says the
DWP is looking forward to co-operating with the insurance industry over the
design of protection products.
Mansel Ayward says the Government wants to have an open dialogue on
protection plan development.
The comments have been welcomed by the industry which accused the DSS of
not listening over initiatives such as stakeholder pensions.
One area that Ayward is concerned with is designing more innovative
products such as mortgage insurance. He says the DWP wants to work with the
industry in creating more flexible private medical insurance and
critical-illness plans which have mortgage protection attached.
He says: “The word is going out this Government wants to work closely with
the insurance industry. This department wants to, I want to.”
Scottish Provident head of product marketing Roger Edwards says: “I get
the impression there is a little bit more of an appetite by the Government
to consult with and listen to the industry. But we will have to wait and
see what the results of that conversation will be.”