Equitable policyholders may get compensation - papers 9 August

The FT today says that policyholders not told about the scale of Equitable Life's liabilities before taking out policies could be up for compensation following a legal deal between the company and lawyers representing 500 former policyholders. The deal means that litigation will be halted until an independent report into their claims is published this autumn. The Law firms involved are Irwin Mitchell and Class Law, who brought the case on behalf of policyholders not told about Equitable's £1.1bn liability to pay guaranteed annuity rates when they bought non-GAR policies betwee...