Simple products should need no advice - HMT

Speaking at reinsurer Gen Re's "Simple" seminar today, Maggie Craig, managing director of life and savings at the Association of British Insurers (ABI) gave a progress overview of HMT's simple products consultation, which began in July 2010. She said: "HMT suggest a simple product would be as straight forward as possible, would aid the understanding of features and comparison and ought to be possible to be bought without regulated advice." She added: "This will excite debate. There is a question mark over does it mean "must" be purchased without regulated advice - as in execution only...