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‘PTA needs clearer explanation’

Moneysupermarket.com has accused providers and advisers of not explaining pension term assurance. Its research found that only 21 per cent of people with life cover would consider switching to a PTA policy.

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Advice-like grip

British insurance.com managing director Simon Burgess says the pro-advice lobby has been loud in championing the cause of the consumer but it is time to air the opposite view that buying direct can actually enable consumers to put in place a superior protection package

Keying blunders cost Clerical 17m

Clerical Medical is facing a bill of over 17m after keying errors meant some of its unit-linked policies have been mispriced for the last four years.The blunder has affected many Clerical unit-linked pensions, life and bonds policies but the company says that there has been no impact on Oeics or with-profits policies.In total, 144,000 customers […]

CII ready to be standard-bearer

The Chartered Insurance Institute says it is best placed to fill the potential vacuum that could be created by the FSA’s move to principle-based regulation and become the industry’s “standard bearer” for guidance.CII group public affairs director John Ellis says when other professions have been faced with “difficult questions” over guidance, they have established a […]

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