Protection

The mis-selling of payment protection insurance (PPI) is costing banks hundreds of millions of pounds to put right and has spawned a new crop of claims management companies.

KEEP IT SIMPLE

With the Consumer Insurance Act coming into force in March 2013, advisers should ensure their medical assessment approach is compliant and defensible, Morgan Ash has warned.

Symponia, a membership body which provides information around managing care fees, is to launch four sister companies offering a wider range of services.

CONDENSED

Royal Bank of Scotland has posted a pre-tax loss of £1.2bn in the third quarter, as it sets aside a further £400m to cover claims related to the mis-selling of payment protection insurance (PPI).

LV= has launched an online calculator for advisers to work out potential commission loss in the run up to G-Day.

Wealth manager St James's Place (SJP) has stepped up recruitment activity ahead of implementation of the Retail Distribution Review (RDR) and on the back of the withdrawal of some advisory firms from the market.

One of America's largest companies which reunites investors with their lost investments has launched in the UK to tap into the estimated £70bn of unclaimed financial assets.

Life and pensions giant Prudential could see its A+ credit rating downgraded by Standard & Poor's (S&P), the FT reports.