Monday 28 July 2014 | RSS Feed

Protection News

British Money offers Conduct Risk Dashboard

Payment protection specialist British Money is helping lenders fulfil their risk and governance controls through the provision of a bespoke risk reporting tool known as the Conduct Risk Dashboard.

Men twice as likely to ignore serious health symptoms

British men are almost twice as likely as women to avoid seeking medical help when experiencing a serious health symptom, protection specialist LV= has found.

LV= to use vScreen

LV= is to pilot the use of Vizolution’s vScreen to improve the end-to-end customer journey in its life and broker insurance divisions, writes Charlotte Lloyd.

F&TRC adds comparison service

F&TRC has boosted the comprehensiveness of its Quality Analyser for Protection comparison service to include Mortgage Protection for Life and Critical Illness Cover.

Nation’s financial well-being in ‘critical state’

Some 52% of the population will be in severe financial trouble if they are not paid next month, research from protection specialist British Money has found.

PR 2014: Standalone protection meetings are key

Holding specific protection meetings are the key to building trust with the consumer, Andy Walton, protection sales director at Intrinsic, said today, writes Ryan Bembridge.

PR 2014: Underwriters are like headmasters

Protection underwriting is like receiving a response from a headmaster of an exam board, Tony Collins, business development manager of Capita has claimed, writes Ryan Bembridge.

PR 2014: UK has a two-tier protection system

The UK has a two-tier system with less healthy groups paying a premium for protection, Mick James, business development manager at RGA, told delegates at the 2014 Protection Review Conference in London today, writes Ryan Bembridge.

PR 2014: Industry worst at marketing itself

Protection professionals are both the best and the worst people in the world at marketing their products to the public, Rhys Williams, strategy director at Quietroom, said today, writes Ryan Bembridge.

57pc of gung ho Brits waive protection

Less than half (43%) of mortgaged residential property in the UK is covered by any kind of protection insurance, research from life and pensions provider Friends Life has revealed.

Protection advisers support e-signatures

Research from technology provider Liss Systems has found overwhelming support amongst the protection adviser community for the introduction of e-signatures.

Source adds AXA to landlord insurance panel

The Source has added AXA to its Landlord Property Insurance Panel as it expands its range of providers, including Amlin, Landlord’s Choice, RSA and Sentinel Landlord and Towergate.

LifeSearch adds Engage to give broader over-50s offer

LifeSearch has added Engage Mutual’s over 50 life cover to its product portfolio in a move to offer customers a more comprehensive and competitive service.

PruProtect adds Vitality to Relevant Life

Pruprotect has announced that it is adding Vitality - a healthy living rewards programme - to its Relevant Life product.

Win big with Uinsure’s World Cup goals bonanza

General insurance provider Uinsure is giving brokers the chance to cash in on this summer’s World Cup with the launch of its Goals Bonanza competition.

Score penalties with Select & Protect

To celebrate the 2014 FIFA World Cup, general insurance provider Select & Protect is launching an online penalty shoot out game giving brokers the chance to win an iPad Mini.

One in three switch insurers for poor service

A third of people claim they switched insurers over the past two years because of the poor service they were getting, EDM Group has revealed.

Berkeley Alexander Joins ‘Protect’

General insurance provider Berkeley Alexander has joined The Protect Association, launched to raise awareness and help promote the benefits of protection insurance and other related services.

The Source launches World Cup prize draw

Source Insurance has today launched a prize draw competition running over the world cup period with prizes worth more than £1,000 up for grabs.

Friends Life enhances Childcover benefit

Friends Life has made further enhancements to its Childcover benefit which covers serious debilitating child specific illnesses.

Private tenants ignore protection cover

Only 7%of private tenants have any financial protection cover, compared with 28%of those with a mortgage, according to the latest Protection Report from Scottish Widows.

Drewberry Insurance launches family insurance tool

Drewberry Insurance has launched a new family insurance tool to help families better understand their financial risks.

LV= launches ‘Personal Sick Pay’

Protection specialist LV= has launched a new underwritten income protection product.

Uinsure goes head to head with 25pc offer

Uinsure is going head to head with Select & Protect and offering 25% commission to all brokers who introduce clients via its Refer & Earn proposition before the end of June.

Aviva: Protection industry needs reform

The protection industry is in need of reform to help consumers understand the crucial benefits offered by family protection, Aviva has said.

Cirencester Friendly expands team

Cirencester Friendly has appointed Susie Beard-Moore as intermediary sales and customer care manager.

Pure Retirement unveils lump sum equity release

Pure Retirement has unveiled its second ‘Pure Lump Sum Plan’ equity release product.

Source partners with LV=

Specialist GI provider Source Insurance, working with LV= Broker, has launched Source Express, in response to demand from brokers for a faster more streamlined household insurance product in the face of severe time constraints.

EXCLUSIVE: MP: We need to plug the protection gap

The number of consumers in the UK living without financial protection is growing, and the numbers are significant, says Andy Love MP, a member of the Treasury Select Committee.

Tim Johnson to leave Paymentshield

Tim Johnson, the chief executive of Paymentshield, is quitting the company to be replaced by Broker Network chief executive Gary Duggan.

PruProtect grows despite market downturn

PruProtect has recorded a 3% rise in cruitical illness cover being taken out in 2013, despite the flagging nature of the market.

British Money urges auto-enrolment

British Money has outlined its plans to auto-enrol its protection policy to Treasury Select Committee member Andrew Love, who has been calling for the government to take action against the protection gap within the mortgage market.

DIY accidents cost public £1.5bn a year

DIY jobs around the home that go wrong are costing the public some £1.5bn in year with many woefully underinsured, Paymentshield says.

Number of Brits living alone doubles in 40 years

The number of UK adults living alone have more than doubled in 40 years to 8.7 million, research from LV= has revealed.

Source improves online payment functionality

Source Insurance has launched improved payment functionality within its quote and buy platform.

L&G to school advisers on protection

Legal and General is launching a series of workshops around the UK to support advisers looking to offer business protection.

Aviva amends critical illness plan

Aviva has amended its critical illness procedure by altering the wording of its heart attack plan.

MMR will boost protection sales

LifeQuote reckons MMR will boost protection sales as prudent lenders consider a borrower’s ability to pay, not just as a result of employment issues but also ill health.

SPECIAL FEATURE: LV= makes extensive upgrades

For the second year running LV= has made extensive upgrades to its critical illness cover reaffirming its desire to be seen as the leading critical illness insurer, writes Alan Lakey, director of CIExpert.

L&G are life savers

Legal and General has helped clients reinstate cancelled and lapsed protection policies courtesy of its Early Warning System technology, which interacts with them electronically.

SimplyBiz Group launches Protection Academy

The SimplyBiz Group has launched a protection academy to help members improve their understanding of the market, writes Harry Yorke.

PruProtect launch business life cover calculator

Advisors will now be able to determine the likelihood of an employee dying before retirement in stark terms with PruProtect’s Business Protection Risk Calculator.

British Friendly launches immediate acceptance

Income protection provider British Friendly has launched a new online application process for financial advisers.

CUNA Mutual recognised for ethics

CUNA Mutual group has been recognised as one of the world’s most ethical companies for the second year in a row.

Paradigm Protect launched

Paradigm Group has launched a new proposition, Paradigm Protect, for brokers and advisers looking to maximise their protection business levels.

LV= protection now 100pc own occupation

Protection specialist LV= is to now only offer customers own occupation income protection cover and has stopped offering the work tasks definition of incapacity in order to simplify cover and make it easier for customers to understand and...

AMII writes to FCA over cowboy broker sites

The Association of Medical Insurers and Intermediaries has written to the Financial Conduct Authority warning against unauthorised lead-generation websites.

Protection Review partners with APFA

The Association of Professional Financial Advisers has teamed up with Protection Review to provide specialist protection training across the industry.

Engage Mutual pay life cover on diagnosis

Those taking out Engage Mutual over 50s life cover can claim a lump sum while still alive if they are struck down with a terminal illness.

Second £1bn PPI mis-selling scandal looming

Lenders’ reeling from the Payment Protection Insurance mis-selling scandal should brace themselves for a further wave of compensation claims, this time from customers who were not offered financial support mechanisms when taking out their...

Aegon paid 93pc protection claims

The proportion of income protection claims paid by Aegon UK increased by 10% last year to 93%.

TCS joins conveyancing apprenticeship consortium

Total Conveyancing Services has joined forces with nine other firms across the UK to develop a new apprenticeship scheme to help people enter the conveyancing profession.