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New MPPI launches offering no-claims related benefits

Compass Underwriting and Assurant Solutions have launched a new web-based mortgage payment protection insurance that rewards loyalty through consumers’ no-claims history.

The MPPI plan, MortgageRewards, promises customers a two-month premium payment holiday for every complete 12 month period without a claim. This reward repeats every year for the life of the policy.

MortgageRewards is an age-rated monthly-premium accident, sickness and unemployment (ASU) policy which will be marketed to the intermediary and IFA markets through an exclusive arrangement with wholesale broker Berkeley Alexander.

Compass Underwriting will administer the scheme on behalf of the
underwriter, Assurant Solutions.

Assurant Solutions sales and marketing director Ian Moffatt says: “Long
before the FSA and OFT began their investigations into the payment protection insurance industry, we began working to develop and encourage range of flexible products and features that are more appropriate to consumer needs. We are pleased to see the industry adapting to the need to treat customers fairly, offering them products which are flexible and value for money.”


Warning for IFA ‘mystery shopping’ regulator

The FSA has threatened an IFA with enforcement action for recording phone calls with its staff and posting them on the internet. Mortgage Life & Pensions managing director Paolo Standerwick says he wants to turn the tables on the FSA by “mystery shopping” its staff. But the regulator has sent a written warning to Standerwick, […]

Private sector must be central to running of personal accounts scheme

Norwich Union head of pension strategy Graham Vidler says private enterprise should be central to running any form of national pensions savings scheme.Vidler says: “The move towards personal accounts is a positive step. Norwich Union will work with the Government to ensure that the right balance is struck between value for money for the tax […]

Balls unsure about future of advice

New Treasury Economic Secretary Ed Balls told the Treasury select committee this week that he is unsure about the future of basic advice and that changes are needed to ensure a better balance between simplicity and regulation.

The Heat is on

Aaarrggggh. Yet more technical papers that must be read. I don’t know about you but my pile of reading is nearly reaching the ceiling.

Show me the money – earnings are central to performance in Europe

Equity markets globally currently remain vulnerable to sharp shifts in sentiment caused by either unexpected or unwelcome outcomes in key upcoming political events (the US and German elections, Brexit and the Italian referendum). These top-down influences, combined with the current low global growth environment, will likely lead to broadly directionless markets, and prolong the current low beta return environment. We do, though, […]


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