The Association of British Insurers (ABI) has proposed three new measures to become part of its planned code of conduct for insurers selling annuities.
The consultation launched by the ABI today builds on the announcement in September that it would create a voluntary code of conduct for insurers to encourage shopping around for retirement products. In September the ABI proposed insurers should remove the annuity application form in all communications they send to retirees, preventing them from simply signing up to an annuity with their pension provider through apathy. However, today the ABI proposed insurers should include a standard statement on the benefits of shopping around for an annuity on the first page of all communications w...
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