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Hybrid protection comes in for criticism

British Insurance’s newly launched income protection and payment protection insurance hybrid product has been criticised for not offering guaranteed premiums or cover terms.

Lifesearch head of protection strategy Kevin Carr says he is unlikely to recommend the product because the premiums and what the policy covers can be changed at any time by British Insurance.

Managing director Simon Burgess says the firm has not changed any premiums or terms and conditions on its reviewable products in the past 10 years except to reduce premiums.

He says the product’s reinsurer is unable to guarantee premiums or cover terms at present but this should be available in the near future.

Carr says: “Any long-term insurance policy, where both the premiums and what you are covered for can be reviewed, is concerning and could lead to consumer detriment.”


ICSA joins debate over Big Four dominance of audit market

The Institute of Chartered Secretaries and Administrators has entered the debate regarding the dominance of the Big Four accounting firms in the UK audit market as it voices support for a wider availability of choice.In response to a discussion paper issued by the Financial Reporting Council entitled Choice in the UK Audit Market, the ICSA […]

L&G looks to develop fund range

Legal & General Investment Management is looking at expanding its range of actively managed funds with the launch of strategic bond, high-alpha and hedge fund products. The news comes in the same week that L&G IM ditched its European equities team of four, headed by Alia Baig, and moved its underperforming 156m European fund to […]

Average house price hits 200,000

Land Registrys latest residential property price report shows the average house price in England and Wales is 199,184. This demonstrates an annual increase of 7.71 per cent, compared to an annual increase of 5.43 per cent for the same period last year.The report, published today – Tuesday 8th August – covers the period from April […]

Self catering

Flexibility in the self-cert mortgage market means different things to different lenders and how much flexibility a client needs is an important point for IFAs.

Can you put a hat on?

By Sarah Scott, marketing consultant You might think the question in the title is a strange one. Perhaps even more so when you learn that it’s one of several asked as part of an assessment for Employment Support Allowance eligibility in the opening scenes of the 2016 film, ‘I, Daniel Blake’. Daniel is a carpenter […]


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