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‘Only hope for Equitable policies’

The chair of the European Parliament’s inquiry into Equitable Life says the UK Par-liamentary Ombudsman is policyholders’ only hope for compensation.

But MEP Mairead McGuinness warned policyholders they should not expect UK Parliamentary Ombudsman Ann Abraham to recommend that they get compensation, particularly after Equitable chief executive Charles Thompson told the meeting he is not “overly hopeful” that Abraham’s recommendations will lead to payouts.

At the group’s latest evidence meeting last week, EU internal market commissioner Charlie McCreevy admitted that the European Commission is powerless to help policyholders, telling MEPs: “If we get a complaint, we investigate” but noting: “Prime responsibility lies with the member states.”

The group of MEPs plans to publish its report next April. The intention was to wait until after Abraham published her report but this has been delayed until at least May 2007.

McGuinness says: “It is unfortunate there is so little confidence in the UK process achieving a result.”


Threesixty to run business planning seminars

Threesixty is staging a series of IFA business planning workshops in the new year.They will focus on how to design and implement the plans and explain specific strategies and tactics that can be used to drive businesses forward, the practicalities of business planning, what to expect from plans and the benefits they bring. The theme […]

Liv Vic appoints new MD of life business

Liverpool Victoria has appointed former Prudential director of Prulab Rodney Cook as managing director of its life business.Cook has previously held senior executive positions at Zurich Financial Services and Pearl Assurance Group and he will be responsible for all aspects of Liv Vic’s life business including intermediary and direct channels.Group chief executive Mike Rogers says: […]

BoS chief quits to join Connells

Bank of Scotland Mortgages managing director Charles Haresnape has revealed his intention to quit HBOS to join estate agent Connells.Haresnape has only been in the role for slightly over 12 months but will not leave immediately as he is not joining a rival.His departure is the latest senior management shift at HBOS after the group […]

Fidelity gains multi momentum

Fidelity says its multi-manager range saw the second-highest sales in the sector in September showing that the fund firm has become a leading multi-manager player.The company says the September inflows, as measured by Feri, show it is gaining momentum and its distribution fund, launched at the start of September is now its top-selling multi-manager portfolio.Fidelity […]


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