ABI

The FSA has given advisers who sell individual long-term pure protection contracts under ICOBS until the end of the year to apply its rules on 'total premium' disclosure.

Reaction to the FSA's consultation paper CP10/8 on pure protection sales by retail investment firms has been positive.

Insurers will face a Government review into strenghtening their adminstration processes to ensure policyholders get fair treatment should a provider go into administration.

Policymakers should focus on making existing regulatory powers work before jumping to extend their remit, or risk damaging UK competitiveness, says the Association of British Insurers (ABI).

The ABI's new director general Kerrie Kelly has urged the FSA to be open-minded and balanced about its judgements on the likely dangers posed to consumers and on what consumers actually want.

Chancellor Alistair Darling has just added another piece to the jigsaw of the financial services industry of the future.

Individual life cover sold direct-to-consumers (D2C) has overtaken sales of the product via intermediaries at Direct Life & Pensions (DLP) for the first time.

Advisers are more aware than ever of structured products but education is the key to them moving from a niche player into the mainstream.

The ABI is considering proposing a protection scheme in which moderate-to-high earners are "encouraged" to buy their own protection rather than rely on state support.

Last week, the financial ombudsman (FOS) published, for only the second time, the number of complaints against authorised firms referred to its office.