reviewable rates

Bright Grey has reduced premiums for plan holders with reviewable life or critical illness cover.

The Association of British Insurers has backed FSA plans to alter variation clauses as its own legal advice suggests the use of current contracts could be challenged by the Financial Ombudsman Service.

The Financial Services Authority is clamping down on the use of "variation clauses" in the contract terms of a product purchase and reminding companies to make sure the terms under which contracts can be changed are known to the consumer.