It says complex insurance products such as income protection, critical-illness cover and life insurance should not be labelled the same as products such as car insurance as there is a greater risk for consumers if they are sold the wrong protection policy.Which? says a major concern for consumers is that it is much harder to choose the right protection product than a general insurance product. Another problem identified is that consumers are not protected under the new regulations when they buy travel insurance alongside a holiday. Head of campaigns Louise Hanson says the new regulations will overall give more right to redress if things should go wrong. Which? welcomes the information and documents to be made available to consumers, which it says will prove to be useful. Hanson says: “The onus has been placed on consumers to make the right choice so it is essential that people take care to read everything carefully when buying insurance and ask themselves whether they are being offered a wide range of products to choose from, whether they need information advice and whether they are being given the level of service that they want.”
Great fun was had by all at fund firm Jupiter’s 20th birthday bash at the swanky Elysium bar last week. But a hidden menace lurked in the shadows unbeknown to most revellers. PR goddess Angela Madden’s attempts to tie a huge bunch of helium balloons to the Diary were met with short shrift by the […]
Invesco Perpetual has added Ian Hargreaves and Stephanie Wu to its Asian equities team.
Ashley Law head of sales and marketing Ian Harrison believes that only independent financial advisers can offer the service that is demanded by today’s discerning consumers.
F&C Asset Management is launching a 1bn UK commercial property trust targeting a 6 per cent return next month.
Many commentators have suggested that the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune’s Rob Burnett discusses the likelihood of this happening. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a guide for future […]
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Advisers are becoming less satisfied with the service they get from platforms, new research shows. A Defaqto survey of nearly 300 advisers shows adviser satisfaction levels with platforms have declined 6 per cent year-on-year and were down 7 per cent last year. Areas that advisers became increasingly dissatisfied with last year were technical assistance, platform […]
The incoming chair of the FCA, former lawyer Charles Randell, has revealed to MPs he invested in a film partnership scheme that has been at the centre of a battle with HM Revenue & Customs. The news represents a fresh blow to the regulator, which has been facing questions over its refusal to publish a […]
What increase in standard lifetime allowance means for clients with fixed protection Mindy has had income for the last three tax years of around £38,000 from her tailoring alterations business. She plans to sell the business and take her pension benefits to fund her day-to-day living expenses when she reaches her 60th birthday in August. […]