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The protection industry may have to change the way it works if it is to maximise the potential of the simple products initiative, the project’s leader has said.
More than £70m has so far been paid out to some 95,000 individual policyholders in Equitable Life, according to a progress report from the Treasury.
The FSA has temporarily shut the sale and rent back (SRB) market after a review found most transactions were either unaffordable or unsuitable and should not have been sold at all.
Other HM Treasury articles
A campaign designed to tackle what it sees as opaque charging structures in the UK investment management industry was launched today by boutique wealth manager SCM Private.
Advisers have given the Treasury’s simple products initiative a tentative thumbs up while recognising that the financial services industry is overly complicated.
The Treasury Select Committee has criticised proposals by the Bank of England to increase accountability, saying they fall "well short" of what is needed.
AIFA has appointed Chris Hannant as policy director, replacing Andrew Strange who left in August.
The British Insurance Brokers’ Association (BIBA) has launched a sanctions checking facility to help members comply with the Terrorism Act and the FSA financial crime requirements.
Introducing gender-neutral rates will result in premium hikes for life insurance and critical illness (CI), HM Treasury has warned.
The government has begun consulting on how insurers can use gender as a risk factor after a European Court of Justice ruling said providers could not charge different premiums to men and women because of their sex.
LIVE FROM 12.30pm: Keep up to date with all the key points coming out of the Chancellor's Autumn Statement as they happen.
The government should create an investment vehicle to buy up business loans from banks, says a leading thinktank.
Prime minister David Cameron will today be forced to answer calls for a government inquiry into the failure of Arch Cru and the fairness of the redress scheme set up to compensate investors.
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