FSA proposes ways to deal with inherited estates

The Financial Services Authority has put forward five options for improving the way insurance companies deal with the attribution or re-attribution of so-called "inherited estates", in an issues paper published today which contributes to its review of with-profits. One of the five options presented suggests that the FSA take on the role of negotiator, on behalf of policyholders, in addition to its role as regulatory scrutineer, when the company has to decide what to do with its inherited estates or "orphan assets" as they are more commonly known. Another option, says the issues ...