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The long wait for clarity continues

Long-term care providers face another year on tenterhooks due to a series of proposed legislation changes needing clarity.

The Treasury report looking into ways of attracting a wider audience to LTC insurance, commissioned in Dec ember 1999, still has no publication date.

The industry is also waiting on a consultation document for LTC and the bill for social care outlined in the Queen&#39s speech has yet to be published.

Norwich Union LTC strategy manager Sandy John stone says it is a critical time for providers as, during a period of expectation, everyone is inclined to wait until things are clearer.

Johnstone says: “My special wish for the new year would be to get some actual dates and for the Government to fulfil its promises about when these three perceived legislations will be published so the industry can get on with responding to them in the best way we can.”


Schroders recruits Perpetual fund managers

Schroders has recruited three fund managers from Perpetual to strengthen its US equities team. Ian Brady will become Schroders head of US equities. Philip Chappell and Grant Cowley will also join the team. Former Legal & General joint head of North American securities Ian Cooke is also joining Schroders. Perpetual was bought by Amvescap in […]

Equitable puts question mark over stakeholder

The insurance industry fears that the Equitable Life debacle will bring public confidence plunging to depths not seen since the height of the pension misselling scandal. The fact that the UK&#39s fourth-biggest insurer and the oldest mutual insurer should close to new business is serious enough in its own right. Now potential investors are going […]

Never N2 land for hybrids

The end of polarisation will be replaced by some combination of direct salesforce and multi-tied agents. IFAs are on their way out, at least as they exist today. They will be forced by the Treasury to adapt to some hybrid closer to multi-tied agents rather than retaining their independence. I do not think stakeholder will […]

Scottish Widows stakes claim on stakeholder

Scottish Widows is introducing a stakeholder pension that gives investors access to 17 funds, including three external funds from April 6, 2001.The stakeholder pension plan has an annual management charge of one per cent, for whichever funds investors choose. Investors can select both active and passive funds managed by Scottish Widows or externally managed funds […]


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