Protection

Lloyds Banking Group has set aside an extra £375m to cater for an influx of compensation claims related to the mis-selling of payment protection insurance (PPI).

Friends Life has increased the commission advisers receive on its income protection policies by approximately 15% in a bid to bring it into line with commission received on critical illness and life products.

Long-term care advisers are well placed to deal with RDR, delegates at the ninth Symponia conference heard.

Two-thirds of IFAs do not account for long-term care within clients' financial planning; according to a survey.

An inquiry into the future of long term care and how best to prepare people for its cost has been launched by a group of MPs and peers.

CLIENT HELP

Professional indemnity insurance (PII) underwriter Chubb is withdrawing from the market for financial advisers.

Research from Scottish Widows shows fewer people are buying protection even though they know savings are insufficient to cope in the event of lost income.

Aviva Investors sent an e-mail by mistake on Friday dismissing its entire staff before retracting the message, according to reports.

Banks and consumer groups are to meet on Monday with a view to "restoring trust" in the process of making payment protection insurance (PPI) claims direct to the provider.