IFAs call for regulation of care policies
Article Abstract:
The UK government was urged to introduce regulations covering long term care (LTC) insurance by IFA Association chief executive, Garry Heath, on 23 July 1998. Mr Heath noted that over the past four years, LTC-related payments had resulted in 160,000 old people losing their homes. He noted that there is no regulatory structure in place covering LTC policies and that as a result people are unsure over purchasing policies. The IFA Association, which represents 2,600 independent financial advisers (IFAs), is currently examining ways of standardising the interpretation of the six activities of daily life. Mr Heath believes that the a clause should be included in the upcoming Financial Services Act to allow LTC-related regulations to be featured.
Comment:
UK: Government was urged to introduce regulations covering long term care insurance by IFA Assn CEO Garry Heath on 7/23/98
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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UK: LEGAL ACTION AGAINST AXA MOOTED
Article Abstract:
French insurance group, Axa, will face a High Court appeal in the UK from the Consumers' Association over the legal costs of the case surrounding surplus orphan assets of GB[pound] 1.7bn. Axa may have to pay the costs of policyholders opposing its distribution plans and said on 9 October 2000 that it was shocked by the move from the Consumers' Association. The row centres on how Axa will pay excess funds to 713,000 with-profits policyholders.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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