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Norwich Union lowers term cover rates by 3%

Norwich Union has cut premiums on stand-alone term insurance by an average of 3 per cent.

A female non-smoker, aged 25 next birthday with a sum assured of 100,000, would pay 6.30 a month.

A joint-life policy for smokers aged 40 next birthday with a 20-year term and a sum assured at 100,000 can expect to pay 42.20 per month, a drop of 1.30.

Pipeline business applications received between January 10 and February 9 and dated between December 10, 2004 and January 9, 2005 will be processed at old rates.

Protection and mortgage development manager Neil Pine says: “During 2004, we were able to maintain competitive prices in the protection market and we are starting the New Year with a rate reduction to ensure that we continue to provide market competitive rates.”


Citisolutions grounds 2,000 staff

Citisolutions has been forced to stop 2,000 members of its salesforce doing business after failing to get sufficient training and register in time for FSA regulation of general insurance.

Clerical’s McAra cleans up his act

After Diary revelations that Clerical Medical’s PR chief was formerly a university chief at one of the rare institutions which teaches actuarial science and introduced condom machines to stem the spawn of actuarial offspring, The Diary has recently learned that Gordon McAra also had prior stints as a basketball reporter and an Edinburgh councillor. Besides […]


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