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NU goes back to drawing board on protection range

Norwich Union is undergoing a complete redesign of its protection range in a bid to meet consumer needs.

The firm is also researching a protection product which, for around a 3 per cent extra premium, is guaranteed to pay out.

NU will begin its protection overhaul in October with around 70 interviews with consumers and advisers aimed at determining what consumers need from a protection product and why many drop off in the application process. It will then test ideas generated from the research.

The process, which NU has used to overhaul its investment and post-retirement offerings, should take four months. Its current range will be scrapped and the new range is expected to launch in early to mid-2008.

Director of risk products Willie Mowatt says: “We are starting from a clean sheet of paper.”


C&G coo Joy Griffiths to replace managing director Jon Pain

Cheltenham & Gloucester has confirmed that chief operating officer Joy Griffiths will be replacing Jon Pain as managing director of mortgages.Pain will be taking the role of advisory chairman at C&G until the end of the year to help support the transition.This follows the recent news that head of intermediary sales John Champion will be […]

IFP conference – UK individuals should not rely on Governent for financial support says Australian financial firm

Individuals need to take responsibility for their retirement savings rather than relying on the government for financial support, according to Australian financial planning firm Ellwood Barry McPherson.EBM director David Swanwick said at the IFP conference in Manchester today that the perception in Australia has changed and individuals understand the need to fund themselves in retirement […]

CII urges FSA to boost professionalism in its RDR response

The CII is calling for a single set of standards, a new complaint system and harsher sanctions to build professionalism in the industry in its first response to the FSA’s Retail Distribution Review discussion paper.The paper, titled ‘A Professional Body for Retail Financial Services?’, outlines what professionalism would look like in a post-RDR environment.The CII […]

Positive Solutions forms new role of mortgage manager

Positive Solutions has appointed Paul Rignall to oversee the development and expansion of its mortgage intermediary business.Rignall joins in the newly created role of mortgage manager to develop an in-house advice and product proposition that will enable Positive Solutions to build on its mortgage business. Positive Solutions claims that one-third of its 1,700 Partners are […]


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