COVER poll: Fewer providers will hurt protection market

COVER readers overwhelmingly believe the current shrinkage in protection market provider numbers is a detriment to the sector.

In the last poll, COVER asked "Do you worry that the number of protection providers is going to reduce to a market damaging level, due to reduced competition?"

Two thirds (65%) of respondents agreed that only a few big players is bad for the market.

Less than a third (30%) feel it will not affect the market, while 4% suggest reduced competition is unlikely to happen despite the current activities.

With Aegon set to announce its protection fate in September, and Friends Provident planning a new Friends Life proposition once the merger with Axa's life arm is complete, it appears we will not have long to find out.

As a greater emphasis on group risk is coming from many quarters, something which often leads to providing employee benefit products, COVER asks to what extent do you deal in employee benefits for SMEs?

Cast your vote or see the poll on the front page.