The Consumer Protection and Insurance Engagement Campaign, funded by insurers and chaired by Lifesearch managing director Tom Baigrie was set up in order to raise consumer awareness and help close the protection gap.
It is also seeking to tap into the FSA’s Money Guidance programme in a bid to reach consumers.
Speaking at the Protection Review conference in London yesterday, Baigrie said: “At the moment the website promotes accident, sickness and unemployment cover as income protection, a very passive piece of regulatory blundering.
“So we have been asked to fix that. In fact we are going to see the Money Guidance campaign to try and tap into that £50m of funding, and we could quite genuinely justify a part of it.”
CBK Colchester principal Peter Chadborn said: “The site is factually incorrect in some areas and potentially misleading so it is good that the FSA is getting epxert opinion.”
Pru Protect director of protection Kevin Carr said: “This is fantastic news. I think it will improve the level of information available and that in turn will improve the outcomes for consumers.”