Protection

The introduction of a third non-disclosure category for critical illness (CI) helped secure extra payouts totalling more than £1.5m in 2008, Aegon Scottish Equitable says.

The future growth of the protection industry will not be through the advice channel, but via direct-to-consumer products, experts warn.

Norwich Union critical illness (CI) claims declined because the condition claimed for was not covered by the policy remained at 8% in 2008, the insurer reveals, the same figure posted in the previous year.

Aegon Scottish Equitable has increased its maximum free cover benefit to £1.25m for all new and existing group life schemes at renewal or next rate review.

Standard Life's chief executive, Sir Sandy Crombie, is to step down during 2009 and the firm has begun seeking a successor.

Shares in Legal & General (L&G) dropped 11% on Wednesday after the insurer revealed it suffered an operating loss of £189m in 2008.

A new team to meet advisers' professional indemnity(PI) needs has been launched by Liberty International Underwriters Europe (LIU Europe), a division of Liberty Mutual Group.

Axa won best service provider and best overall provider as it scooped seven gongs at the LifeSearch Protection awards 2009.

Mark Tucker, chief executive of Prudential, is to step down from his role with the insurer at the end of September, to be replaced by chief financial officer Tidjane Thiam.

I think I'm going to go and spend the rest of my life huddled up in a ball in a dark corner, not eating and drinking and not exposing my body to any external elements.