Insurers will fail

'simple investment products through low-cost channels '? No such things. Insurers will see a continuing exodus of assets from them to Independent IFA Platorms and insurers will fail to replace the assets they lose. Look at all the failed attempts insuers have made in the past to bypass IFA's. If it is not worth buying IFA's will nor recommend it and consumers with money will be aware of that. Consumers with no money don't consitute a market for financial products other than of course loans. Unsecured loans are unregulated by the FSA. They are the very area which should receive MOST regulatory attention. It is outrageous for high street banks through credit card lending -branded or whitelabelled, to be able to raise money at 0.5% which they lend out at 18%. This is NOT treating customers fairly by any measure and should receive the Regulators undivided and immediate attention

Posted by: snooks

Short Sighted Life Companies

This was on the cards all along as the life offices have been too complacent and short sighted. Probably because they have been infiltrated by the PC Labour brigade. Anyway, things may change yet Laura so don't be too sure. Until the fat lady sings as they say................

Posted by: Incompetent Regulators Awards Team

deja vu

In the beginning the insurance man sold insurance policies and the Pru thought that was good and had 14,000 of them. Then the FS Act said that was bad so the Pru sacked them all because intelligent independent advice was the way forward. Blow me, I just read the Pru are taking on a salesforce again. What was it all for?

Posted by: Sean Reynolds

whats new

Life offices do not talk to us anyway they worry about cost which they should but there is no contact, they are just not interested. Life offices will have large direct sales teams as they used to have, but the cost was prohibitive. Wow! I think that this is called reinvention of the wheel I have been in this industry 30 years and I have seen it all before and the issues remain the same, except we now have regulation and incresingly there is a disconnect from the public because of cost, fees call it what you will

Posted by: roger holloway

RDR impacts distribution - shock horror

No sh*t sherlock; the RDR is going to effect the way insurers distribute their products. Good to see a ratings agency up with the hunt as they were when dishing out favourable credit ratings to Mortgage backed securities before they realised the unemployed couldn't afford the repayments! Not sure how useful the concept of 'life insurer' is now most have morphed into wrap platforms or other specialist providers. The point is distribution shape is changing as have providers; live with it, accept its happening and decide a commercially realistic response.

Posted by: Christobel