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Regulation move boosts interest in PMI plans

PMI providers say the move to add the regulation of general insurance advice to the FSA&#39s remit has led to a dramatic increase in interest in their products from networks and IFAs.

PPP Healthcare says since the Treasury ann-ounced in December that it plans to bring the GISC under the FSA&#39s umbrella, IFA networks have shown an increased interest in including it on their panels.

Norwich Union Healthcare says there has been an increase in its agency agreements, not just from networks but all types of IFAs.

It says the regulatory changes are one factor but it also points to other factors such as depolarisation, the 1 per cent world and the constant presence of NHS issues in the media.

PPP Healthcare distribution development manager Nye Jones says: “Historically, PMI providers have had to push their way into the IFA network arena but it is now much more of a pull on the part of networks.”

Norwich Union Healthcare spokeswoman Louise Zucchi says: “We have noticed a significant increase in interest from IFAs across the board, not just from networks.”

Bankhall operations dir-ector Tony Murrell says: “Because of the regulatory changes announced in Dec-ember, it is an area of the marketplace that we are looking at to the benefit of our members.”

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