Sunday 20 April 2014 | RSS Feed

Protection News

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.

Uinsure launches sales tool

General insurance provider Uinsure has launched a new sales tool to allow brokers to compare products across the market at point of sale.

Lifesearch announce £4.5m gross profit

Lifesearch recorded healthy financial results for the year ending August 2013, with turnover increasing by 13% to £18.1m and gross profit growing by 37% to £4.5m.

Cardif Pinnacle joins IPTF

Cardif Pinnacle has joined the Income Protection Task Force, a body briefed with raising awareness of the value of income protection.

Aegon pay more for life and critical illness

The value of life and critical illness claims at Aegon significantly increased in 2013 compared to 2012, data has revealed.

Protection odds stacked against mortgage borrowers

Only 2.7% of people taking out new mortgages and 5.4% of existing borrowers have financial cover to ensure continuity of their payments if they become unemployed, says protection specialist Simon Burgess.

Aegon UK appoints Dougy Grant as protection director

Dougy Grant, previously retail strategy director, has been appointed as Aegon UK’s protection director - taking on responsibility for the entire protection business, which is becoming a single end to end business with increased focus, accountability...

FCA failing to act in consumers’ best interests

The Financial Conduct Authority is being slammed by protection specialist Simon Burgess for failing to issue guidelines to lenders to financially protect consumers when making a mortgage offer, writes Robyn Hall.

FCA slap £30.6m fine on HomeServe

The Financial Conduct Authority has fined insurance broker HomeServe £30.6m for misselling insurance policies and failing to investigate complaints.

Santander launch loyalty home insurance

Santander is launching a new flexible home insurance product offering buildings, contents or combined buildings and contents insurance all in one.

Conveyor belt of storms bring more property claims

The extreme ‘conveyor belt’ of storms affecting Britain is expected to bring more widespread damage to homes from both high winds and heavy rain, according to the Meteorological Office.

Former solicitor disqualified for 11 years

Malcolm Stewart Graham, a former solicitor already serving a five-year director disqualification and who ran SFM Legal Services has received a second disqualification of 11 years following a decision made on 15 January 2014, at Newcastle...

Workers delaying retirement

Over half are considering working past state pension age to make their retirement more comfortable financially, Prudential research revealed.

British Friendly paid 96.27pc of IP claims in 2013

Income protection provider British Friendly, who launched its first intermediated product in 2011, paid 96.27% of IP claims in 2013

PruProtect launch protection campaign

PruProtect are campaigning to raise awareness of the need for protection insurance.

Public not valuing protection

Most UK consumers fail to see the worth of protection products, research from The Syndicate has found.

Source scoop GI Provider of the Year Award

Source scooped the GI Provider of the Year 2013 award at the recent Tenet Conference at Lancaster Gate Hotel, London.

Fall in Central London rents

Returns in many of London's most desirable postcodes fell in the last quarter of 2013, figures from Benham & Reeves Residential Lettings revealed.

L&G revamp protection underwriting

Legal & General has improved its financial underwriting criteria for customers taking out life insurance and critical illness cover.

Exeter Family Friendly launches online calculator

Exeter Family Friendly has launched an online Financial Forecast Calculator to help advisers visually display the importance of income protection to customers.

British Money launches Universal Cover

Online insurance provider British Money has launched Universal Cover which pays borrowers who lose their jobs or are prevented from working due to an accident, sickness or caring commitments.

Skandia adds greater clarity to its critical illness plan

Skandia has added greater clarity to its critical illness plan and now has new full payment conditions including Parkinson Plus Syndromes, writes Alan Lakey, director of CIExpert.

Berkeley Alexander throws lifeline to homeowners

Berkeley Alexander has today launched the latest addition to its suite of Accident, Sickness and Unemployment protection products to support mortgaged homeowners.

SPECIAL FEATURE: The disaster recovery plan

Geoff Hall, managing director at Berkeley Alexander, says that as FCA authorised businesses, we must ensure that we are able to deliver continuity of service even if the worst should happen.

Intermediary success for PruProtect

PruProtect increased its overall new business in the intermediary market by 24% after launching its new generation protection products.

SPECIAL FEATURE: All I want for Christmas...

iPads and XBoxes may top many Christmas lists this year, but I thought I would ask Santa for a few more practical presents to help mortgage intermediaries out in 2014, writes Source managing director Kevin Paterson. Well asking...

Weather adds to insurance bill

New research published by Direct Line home insurance reveals the cost of repairing damage caused to residential properties by the severe weather last winter exceeded £1.5 billion.

Deck the halls but not the deck

For some it will be full of festive fun, but for others Christmas is an accident waiting to happen and insurance is key according to new research from Confused.com.

SPECIAL FEATURE: Escape of water

Kevin Paterson, managing director, Source Insurance, says if your clients ask you why their household renewal or premium has gone up, there’s an easy answer: escape of water claims

Cost of protection creates biggest barrier

Consumers who are considering purchasing protection cited the cost of the policy as the main reason for not signing up, research from Aegon UK revealed.

Protection remuneration not up to scratch

The Financial Conduct Authority has raised concerns that the protection market is failing to address the issue of financial incentives in its sector.

London & European rebranded

Title insurance and the legal indemnity solutions provider London & European has been rebranded as Titlesolv.

Men’s cancers are significant cause of claims

Ahead of the moustache-growing month of Movember, which raises awareness of men’s health issues, Aviva has released previously unpublished details of its critical illness and private medical insurance claims relating to male-specific cancers.

After the storm

With storms affecting much of the south of England over night and this morning, many insurers have drafted in staff across the UK to help with claims.

Richard Verdin joins RGA UK as chief marketing officer

Richard Verdin is to join RGA UK Services as chief marketing officer, UK and Ireland.

Royal London to scrap Bright Grey brand

Royal London has confirmed that it plans to scrap a number of its brands, including Bright Grey, as it moves to a single master brand for its UK life, pensions and investment businesses.