Access to insurance products is a key priority for the next steps of the government's financial inclusion strategy, according to a report published today by Ed Balls MP.
The report – Financial inclusion: the way forward – says progress has been made in a number of areas in the financial inclusion strategy, such as reducing the number of adults without access to a bank account from 2.8 million in 2002-03 to 2 million in 2005-06. But it says key challenges remain if the goal of helping everyone to plan for the future and cope with financial pressures is to be meaningfully realised. A key challenge is understanding the role of insurance as a product for financially excluded customers, and the government says it will work with the Association of British Ins...
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