UK: HEALTH AND INSURANCE BROKERS MUST REGISTER
Article Abstract:
Thirty thousand health and insurance brokers will have to sign a compulsory register being set up by the General Insurance Standards Council in line with a European Union directive. The self-regulator plans to submit its rulebook to the Office of Fair Trading by June. The register will cover brokers who sell health and general insurance products. Under the provision, health and insurance providers will only be able to trade with brokers that are GISC members. Brokers will have to comply with codes covering sales practices, disclosure, competence and training. Brokers have to pay an annual membership fee of GB[pound] 200 and have professional indemnity cover of up to GB[pound] 1mn a year.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
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UK: IFONLINE LAUNCHES MPPI BROKER SERVICE
Article Abstract:
The independent trading platform IFonline has introduced a mortgage payment protection insurance (MPPI) broker service, enabling brokers to conduct online applications and receive illustrations. Intermediaries will spend less time searching through details on paper-based products to complete the mortgage application, with the service simplifying the process to assist both the client and adviser. The MPPI service will be available online together with the existing solicitor referral service and mortgage application process. Paper-based clients' signatures are still required, however, although a case-tracking facility should be available by end-June 2001.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: SCOTTISH WIDOWS APOLOGISE FOR MAILSHOT ERROR
Article Abstract:
Scottish Widows has apologised to IFAs for a mailshot error which saw sales aids aimed for Lloyds TSB self-employed pension policyholders sent out with IFA customer packs. The pack, which explained the legislative changes to premium contributions and emphasised the benefits of paying higher pension contributions, included a helpline number for Lloyds TSB customers.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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