IFAs are set to be hit with a hike in professional indemnity insurance (PII) premiums as increasingly selective insurers respond to a sharp rise in claim values, warns Tenet.
The PII market will harden due to a combination of a 40% rise in claim values, increased fraud and a more intrusive regulatory approach which could see the Financial Ombudsman Service doubling award payments...
Lloyds Banking Group made a loss of £3.5bn last year - largely due to money set aside to cover payment protection insurance (PPI) claims - and said its bonus pool was down 30% against 2010.
Online payment protection insurance (PPI) provider Paymentcare is offering a 30.8% commission to brokers who switch clients' policies to one of its products.
Critical illness (CI) and mortgage payment protection insurance (MPPI) are among the most complicated financial products for consumers to understand, the ABI has found.
The FSA is currently consulting on its guidance for payment protection insurance (PPI) and potential replacement products such as short-term income protection (STIP).
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An estimated £2.75bn
Outflows from UK equity funds gathered pace in August, with £2.6bn of assets being pulled from the market area over the course of the month, according to Morningstar’s latest fund flows report.
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