Govt "enthusiastic" about protection market benefits - Verdin

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The government is "enthusiastic" and "engaged" with the protection industry to support its attempts to cut welfare spending, according to Richard Verdin.

However Verdin, who is a senior industry figure with more than a decade of experience in the market, also warned that it was slowly dying and urged for a concerted coordinated effort by the whole industry to produce long term sustainable growth. Speaking on a personal basis at the Actuarial Profession's Health and Care Conference, Verdin explained his serious concerns about the present state of the market and its focus on technicalities. "Since 2006 the protection market has been dying bit by bit, year by year," he said. "We are an industry that's overly focused on the product not ...

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