View more on these topics

Pioneer paid 96% of income protection claims in 2007

Pioneer paid out on 96 per cent of income protection claims last year, down from 97 per cent in 2006.

Musculoskeletal and back injuries accounted for 32 per cent of claims and operations and fractures resulted in the second and third highest number of claims. Dental and optical injuries accounted for 8 per cent of claims last year.

Chief executive Andy Chapman says firm is happy with the statistics and has urged other income protection providers to publish claims statistics.

He says: “We believe it is vital to publicise claims statistics to reassure policyholders and intermediaries of the importance and value of this crucial form of protection insurance. We were the first provider to reveal our income protection claims statistics and are committed to doing so annually. If the income protection market is to reach full potential providers have a responsibility to be open and transparent with intermediaries and consumers.”


New firm could take 7IM stake

Speculation is mounting that another firm is to take a stake in Seven Investment Management in a move that could see Zurich dilute its current 49 per cent holding.

NU academy signs up 550 in its first week

Over 550 advisers have joined Norwich Union’s Financial Adviser Academy in its first week.NU believes the scale of the response is due to an appetite to improve qualifications in response to the retail distribution review.The academy launched last week in association with the Chartered Insurance Institute and aims to help advisers achieve the CII’s Diploma […]

Industry facing £28m FSCS levy

The financial services industry will be asked to contribute £28.3m towards the Financial Services Compensation Scheme levy for 2008/09, down by £2.4m from original estimates.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm