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PFS supports CI name but rejects tiered cancer cover

The Personal Finance Society says the name of critical-illness insurance should be kept despite industry objections but two-tier cancer definitions are not a viable option.

In response to the ABI’s consultation on best practice for critical illness, the PFS says CI should not be rebadged despite concerns it can mislead consumers. It warns that any move to tier cancer cover will confuse consumers and advisers.

The PFS ran an industry workshop last week for reinsurers, providers, IFAs and networks to help shape its response.

Much of the debate was on the need for protection products to be explained clearly without adding to paperwork.

Royal Liver IFA market manager Andy Milburn says: “More should be done to ensure advisers have done everything possible to explain to the client.”


Threadneedle appoints new global equity investment specialist

Threadneedle has appointed Michael Seymour as global equity investment specialist.He will report to head of UK institutional business Madeline Forrester in the newly created role.Seymour is now responsible for representing Threadneedles global equity team to clients, consultants and the media.He joins from Deutsche Asset Management where he was client director and equity portfolio specialist.

Lawyer claims watchdog shunning time-bar rule

The IFA Defence Union’s lawyer has accused the Fin- ancial Ombudsman Service of systematically ignoring an FSA rule time-barring endowment complaints against IFAs. During a taped meeting with FSA managing director regulatory services David Kenmir and FSA chief counsel Greg Choyce, IFA Englands proprietor Andrew Kerr, who is the lawyer for the IFADU, pointed to […]

Rifkind leaves Work and Pensions role

Sir Malcolm Rifkind has walked out on his role as shadow Work and Pensions Secretary after not being offered the Foreign Affairs brief in the shadow Cabinet reshuffle.The job of Foreign Affairs spokesman has gone to former Tory leader William Hague with George Osborne remaining in his role as shadow Chancellor.Rifkind took on the Work […]

Reits get an early start

Real estate investment trusts are set to be introduced early next year following the Chancellor’s surprise decision to introduce them in his pre-Budget report on Monday. Industry speculation had suggested the Chancellor might delay Reits because of concerns over loss of tax revenues but their inclusion in his statement came as good news to providers. […]

Investment clock economic update

In the latest Investment Clock economic update, Ian Kernohan, Senior Economist at Royal London Asset Management, discusses the implications of the US Federal Reserve’s recent hike in interest rates and upcoming French presidential election. The value of investments and the income from them is not guaranteed and may go down as well as up and […]


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