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Indemnity commission supports distribution while FCA review could include business protection and PMI – PDG
The Protection Distributors Group (PDG) will tell the Financial Conduct Authority (FCA) that it believes the protection market “works well“ and that indemnity commission “supports distribution“. The trade body said it will...
Read moreFCA protection market investigation focusing on loaded commission, product churn and insurer competition
The Financial Conduct Authority (FCA) will be conducting a review into the operation of the pure protection market including commission structures including loaded commission and the shrinking insurer market. It is also...
Read moreHow cash plans lead other insurance products: FCA value data analysed
A breakdown of Financial Conduct Authority (FCA) value measures data on insurance products shows healthcare cash plans to be leading in almost all categories measured by the regulator. Out of more than...
Read moreAdvisers believe customers would pay more for enhanced terminal illness definition – Guardian
Three in four advisers think an enhanced terminal illness definition is a feature customers value highly enough to pay more for, according to research by Guardian and IPipeline among 345 advisers this...
Read moreDeadHappy sale expected in September but creditors will lose more than £1.2m
A sale for collapsed insurer DeadHappy is expected to be completed in September after an offer was accepted from a firm operating in the life insurance sector, according to administrators Evelyn Partners....
Read moreInsurer target markets too broad and lack detail as does FCA guidance – advisers
Insurers need to up their game in compiling product target market statements as they are too broad and vary widely in terms of detail, but so too should the Financial Conduct Authority...
Read moreFCA slams ‘poor’ PMI and protection product target market statements
The Financial Conduct Authority (FCA) has singled out target market statements from private medical insurance (PMI) and income protection (IP) products as “examples of poor practices that could cause customer harm”. It...
Read moreFCA requiring product withdrawals and other ‘urgent’ action as insurers and advisers failing to demonstrate fair value
The Financial Conduct Authority (FCA) is requiring insurers and intermediaries to take remedial actions including ordering them to withdraw products where it has material concerns about providing fair value. The regulator said...
Read moreProviders’ call service has largely improved but response times vary – advisers
Insurance provider call service seems to have improved significantly since experiencing a fall-off in quality last year, according to some brokers and advisers approached by Health & Protection. Last year several providers,...
Read moreAxa Health’s Fergus Craig retiring after 30 years as Ali Hasan joins from Vitality
Axa Health commercial director Fergus Craig is to retire in May 2025 after more than 30 years in the business. Vitality chief commercial director Ali Hasan will replace Craig as commercial director...
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