Coalition MPs have been accused of sending duplicated letters to victims of the Equitable Life scandal, amid expectations of small payouts.
The firm's chief executive, Chris Wiscarson, claims almost identical letter have been sent by a number of Conservative and Liberal Democrat MPs, effectively backing the payouts recommended by Sir John Chadwick in July. He tells the Daily Mail: "It appears that a standard template has been provided to MPs to send on to policyholders." Mr Wiscarson also pleaded with the Treasury not to back Sir John Chadwick's recommendations, which would give policyholders payouts of between £400m and £500m. Instead, he is urging politicians to support Parliamentary Ombudsman Ann Abraham's calls for...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes