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Genetics body wants ban on two-tier insurance

The Human Genetics Commission is calling on the Government to ban a proposed two-tier system of insurance in which people without adverse family health history get cheaper cover.

The report, entitled Inside Information, recommends that the Government&#39s genetics and insurance committee should examine the way the insurance industry uses family information to set premiums.

But the report falls short of calling for the inclusion of family medical information in the five-year moratorium on the use of genetic information, which was agreed last year by the insurance industry. It says the industry should investigate new methods of pooling risk so those affected by genetic disorders can get life and health insurance.

The HGC also recommends that protection should be enshrined in a new Genetic Discrimination Act rather than an amended Disability Act.

ABI head of health Richard Walsh says: “We strongly support the need to look at models of providing insurance that could be implemented after the moratorium finishes.

“It will be important to ensure that any future arrangements are sensitive to ethical concerns and can operate effectively in practice.”


L&G warns on state pension

Legal & General says the rise in basic state pension is not enough to fund retirement and is warning people to save more into their pension.The Budget increased the state pension by only 2.3 per cent in line with inflation, giving single pensioners an increase of just £2 a week and couples £3 a week.L&G […]

Ima gives guidance on completing tax returns

The Investment Management Association has updated its factsheet &#39Completing your tax return. What you need to tell the taxman 2001-2002&#39 to help unit trust and Oeic investors complete tax returns. It illustrates what should be included in the return by using examples of interest and divided vouchers along with the appropriate sections of the return […]

Banking on statutory trusts

Since recent high-profile bankruptcies, it is worth remembering the benefits of statutory trusts.The statute in question is the Married Women&#39s Property Act 1882 (MWPA).This act applies in England and Wales. Scotland has its equivalent in the Married Women&#39s (Policies of Assurance) Act (Scotland) 1880 and in Northern Ireland the Law Reform (Husband and Wife) Act […]

Inside Edge – Tony Kempster

In a Saturday FT article a couple of weeks ago, Stuart Fowler exhorted Ron Sandler to force the closure of all with-profits funds and insist those clients move their cash into other investment vehicles where they can see what exactly is happening to their money. He thinks this would be good for investor education and […]


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