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Exclusion zones

After the appalling London bombings of July 7, survivors, victims and families of the deceased are having to dealing with various insurance companies for their claims.

Many insurance companies have an exclusion clause for acts of terrorism. Bupa life policies cover acts of terrorism but its PMI policies do not.Fortunately, most of the “household name” companies have confirmed they will honour claims resulting from the bombings, but for the sake of the victims and their families, I sincerely hope that all insurers involved will do so as a rejected claim would undoubtedly be a very hard knockfor anyone to bear.

This also raises the question of best advicewhen recommending life, critical-illness or PMI policies.Shouldadvisers be putting moreemphasison those companies which categorically do cover acts of terrorism over those which do not?This is not only a problem for London as in the past we have seen bombings across the UK, including Manchester, Brighton and Birmingham.

Jim GillespieIndependent Financial Services,



Land ahoy for Cordea Savills

Cordea Savills, the fund management arm of the Savills property services group, has set up a fund which will trade in land. The serviced land investment fund, which has a 25,000 minimum investment, will be more volatile than the firm’s existing Diverse fund and will aim for returns in excess of 15 per cent a […]

Turner report changes are set for 2010

The Government says 2010 will see the next major change to the pension landscape after A-Day with the implementation of the findings of the Turner Report. In a newspaper interview last week, pensions minister Stephen Timms said a consultation document on proposed reforms will be published next spring, just months after the publication of the […]

LiverpoolVic aims at IHT planning

Liverpool Victoria is offering whole-of-life guaranteed premium life cover. The policy pays out a lump sum, with premiums guaranteed for the duration of the policy. Minimum premium is 5 a month and level or index-linked options are available. It features additional inheritance tax-guaranteed insurability options, which cover marriage, divorce, inheritance, and legal adoption of a […]

Jupiter appoints Radcliffe to manage global technology

Jupiter Asset Management has appointed Sebastian Radcliffe to manage its Jupiter global technology unit trust. The 55m trust will be managed by Radcliffe with effect from Monday August 8.Radcliffe has worked at Jupiter for eight years and will replace Prakesh Rajasekeran, who is leaving Jupiter to pursue other opportunities. Radcliffe has managed the 16.4m Jupiter […]

Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.


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