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Equitable legal team split over claims

Equitable Life&#39s legal advisers are split on the size of potential misselling claims the life office could face from policyholders.

The findings of Equitable&#39s legal team, which includes a report by Nicholas Warren, QC, and other lawyers working on the compromise deal, will be published this week alongside details of the scheme. The board wants a compromise to end what could be years of legal disputes.

In an open letter to policyholders, Equitable admitted its MVAs and bonus cuts had “distressed” many policyholders. It says those now leaving are not taking more than their fair share.


PMI premiums up as costly claims Climb

A new report by Datamonitor has found the cost of private medical insurance in the UK is rising as increasing numbers of ageing policyholders make claims.Research by the market analyst shows escalating claims by elderly customers and static market conditions are combining to increase the cost of premiums to an extent which leaves many people […]

Abbey National looks high

Abbey National – High income & growthType: Mini or maxi guaranteed Isa.Aim: Income or growth by investing in a Dublin-based company which tracks the Dow Jones Eurostoxx 50 index.Minimum-maximum investment: Lump sum £1,000-£7,000.Investment choice: Cenus Investments 25.Term: Five years.Guarantee: Providing that between November 17, 2006 and December 14, 2006 the index does not fall below […]

Northern Rock offers five-year buy-to-let

Northern Rock has introduced a five-year fixed-rate buy-to-let mortgage for loans of up to 75 per cent of valuation.The mortgage is fixed at 6.99 per cent for the first five years and borrowers who pay off the mortgage during the fixed rate period must pay 2 per cent of the original loan as a penalty. […]

Inter-Alliance reports £2.1m loss

National IFA Inter-Alliance has reported a loss of £2.1m for the six months ending June 30, a sharp fall from a profit of £0.7m in the same period last year.The IFA says the loss, which excludes the cost of integrating recruits from the Lincoln and Pru sales force, is due to substantial investment in its […]


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