News

Scottish Provident has revealed it paid 90% of critical illness (CI) claims last year totaling £88m.

HSBC chairman Douglas Flint has warned major UK banks are bringing forward potential plans to relocate overseas due to uncertainty over the future regulatory structure of the financial sector.

Complaints made against personal investment firms, which includes IFAs, rose 48% in the 12 months to 31 December, while the amount paid out in redress to customers increased 42%, figures show.

The financial Ombudsman (FOS) has frozen the fee it charges firms to deal with complaints at £500 for the second consecutive year.

WPA has included NHS dental care on its standalone dental plan.

Fee-based wealth adviser Towry EJ has found in favour of the vast majority of clients who had complained over delays in transferring their assets away from the company, FSA figures show.

BP shares closed down 2.2% in London yesterday on a report its managers could face manslaughter charges following the Gulf of Mexico oil spill, which could lead to much higher fines over the disaster.

Norwich & Peterborough (N&P) has had its financial strength rating downgraded by Moody's, a week after the building society revealed it faces a £57m Keydata compensation bill.

The Australian dollar has hit a 29-year high against the US dollar on the back of fresh demand for the nation's commodities.

The government is aware a considerable expansion in the group income protection market (GIP) is one option for its review of the welfare and sickness absence system.