Crombie concerned at members ignorance - papers 27th April

According to the paper, Crombie - who wants one million members to vote for the group's planned demutualisation next month - said he had learned from his roadshows around the UK that customers continued to feel hurt by lower returns, and had been unaware of "the risks to which [the products] were exposed". But rather than blaming the consumer, he admitted "some or all" of "poor selling practices, poor product design and ineffective risk controls" by the industry should be held responsible. Crombie was speaking at a conference entitled Rethinking Life Insurance - The Business Future, a...