Protection

IFAs are calling for the introduction of standards in the way life insurance companies interpret anti-money laundering legislation to help reduce inconsistencies in the documents they request.

Non-disclosure rules and the law of agency must be reformed as part of a wider review of insurance contract law to make the advice process fairer for intermediaries and consumers, says the Chartered Insurance Institute (CII).

The All Party Parliamentary Group on Insurance and Financial Services has called for clearer rules on the non-advised selling of Payment Protection Insurance (PPI) and is considering submitting comments to the Office of Fair Trading (OFT).

Five reforms to start funding long-term personal care more fairly, adequately and coherently have been proposed by the Joseph Rowntree Foundation (JRF).

Three years after its launch in March 2003, Bright Grey has grown from a company of six to one with over 400 employees, and it plans to keep growing year on year while retaining its autonomous, team-orientated culture.

Menu protection plans will help advisers combat the increasing competition in protection business from non-advice distribution channels such as supermarkets, according to Defaqto.

A new Statement of Best Practice for critical illness cover, which aims to improve consumer understanding and lower the number of declined claims, has been issued by the Association of British Insurers.

Some firms are incorrectly calculating the amount of benefit income protection policyholders should receive after successfully submitting a claim, according to the Financial Ombudsman Service (Fos).

Royal Liver Assurance has been fined £550,000 by the Financial Services Authority (FSA) for mis-selling with profits savings policies.

Friends Provident is offering a pension term assurance (PTA) product - Tax Relief Life Cover (TRLC) - to coincide with the new A-Day legislation.