Step out from the shadows

The discovery by Scottish Equitable that any European/ Channel Islands/Isle of Man-based insurer selling to UK residents is potentially covered by the UK's Financial Services Compensation Scheme (see pg1) could be the start of a boom in offshore sales. This may seem to be a slightly extravagant claim, but one of the reasons why offshore products are not being bought by mainstream UK investors is not issues of cost, their sophistication, their complexity, or their suitability - offshore can match pretty much everything onshore can offer and provide more choice - it is because the average d...