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Number of people covered by PMI jumps

The number of people who bought personal private medical insurance jumped nearly 2 per cent last year to 1,030,000.

Now 5.9m adults and children in the UK are covered by either personal or corporate PMI policies.

ABI director of general insurance and health Nick Starling says PMI offers people greater choice of treatment and other services for a wide range of medical conditions and injuries and also takes pressure off the NHS.

Over 90,000 more companies bought PMI for their employees in 2006 than 2005 and Starling is thrilled by the fact more people are now covered.

He says: “It is encouraging that more individuals are choosing to buy PMI for themselves and their families. PMI bought by companies on behalf of their employees has continued to increase in popularity too, helping to ensure that people can get back to work sooner after illness or injury.”


Harrison slams system structure

David Harrison has launched platform True Potential with a damning indictment of industry inefficiencies for leaving advisers reliant on big commission because current structures do not support thousands of small transactions.He also claims that wrap is making things worse and says his system offers the best route to profitability.TP will offer fact-finds, two-way tracking, real-time […]

Hard times

With direct sales a dying breed, there is not such an obvious entry into becoming an adviser. Long gone are the days when you could transfer from a different profession and carve a career within financial services. When I began recruiting in the late 80s and early 90s prior to the reviews, I enjoyed placing nurses, teachers, milkmen and police constables, etc, as financial advisers. Brokers, lenders and providers now expect to recruit staff that can hit the ground running and struggle to fill vacancies.

Four-way split looming as retail review row rages on

Last-minute arguments are still raging within the FSA over the final draft of the retail distribution review, with the market set to segment four ways and doubts hanging over the future of the IFA tag.Sources close to the RDR say a draft paper, which is understood still not to have been finalised, proposes scrapping the […]

The great bank robbery

By this time next week, the FSA may have made the biggest mistake in its history.Forget the mishandling and blame-shirking over Equitable Life or the madness of an ombudsman review of endowments that uses retrospection while the FSA claims it does not.Ignore the PI nightmare – due to uncertain regulation.Overlook the scars left on the […]

China: growth defence or another debt-fuelled boom?

By Douglas Turnbull, Head of Chinese Equities at Neptune Following recent stimulus efforts from Beijing, Neptune’s Douglas Turnbull examines how the government’s long-term reform agenda can be balanced with supporting growth and addressing structural challenges, and the investment opportunities arising from this.Click here to read more Important information: Investment Risks Neptune funds may have a […]


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