L&G - Advice too costly to support welfare reform

The provider also suggested the insurance sector has the capacity to play a role as much of the work it does overlaps the bounds of the Department of Work and Pensions (DWP). However, speaking at the Reforming Welfare conference, Tim Breedon, Group CEO of L&G explained how he felt the cost of advice and regulation was restricting insurers' ability to produce simpler and cheaper products. Breedon is also due to take on the role of chairman of the Association of British Insurers next month. "Looking at the costs associated with insurance and savings products, they are largely the cos...