trade body claims proposal is against european law and spirit of open markets
The Association of International Life Offices (Ailo) is gearing up to take on the German government over draft legislation it claims will prevent its members entering the market. Alan Morgan-Moodie, the chairman of Ailo, confirmed the body had formed an action group, involving UK and Irish-based insurance companies affected by the proposals. He said one of the main concerns was the draft legislation suggested establishment charges for insurance contracts would have to be spread over five years but the policyholder could surrender the contract within those five years without penalty. Ailo...
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