Regulator warns against 'toxic' traded life insurance policies

Insurance A controversial investment product which allows purchasers to effectively bet on when groups of American citizens are likely to die has been branded "toxic" and "unsuitable for the majority of UK retail investors" in new guidance from the Financial Services... 01 Dec 2011

Protection insurance sellers face six-month compliance deadline

Insurance Firms selling basic life cover, critical illness, income protection and payment protection insurance by phone or face-to-face have six months to show the Financial Services Authority (FSA) that they are complying with its rules. 01 Dec 2010

Out-Law Guides

  • Social care funding: opportunities for the financial services industry

    This guide is subject to UK law and was last updated in October 2011 . A recent report on the funding of social care recommends individuals should be required to contribute no more than £35,000 towards the costs of their own care in old age.

  • Reforming the with-profits rules

    This guide is subject to UK law and was last updated on 23rd March 2011 . The FSA's proposed rule changes for with-profits funds focus on fair treatment for policyholders and effective, independent...

  • Simple financial products

    This guide is subject to UK law and was last updated on 26th January 2011. The Government wants to encourage the development of a range of simple financial products for the mass market that "do wha...

  • The FSA's 2010 with-profits review

    This guide is subject to UK law and was last updated on 20th July 2010. With-profits funds are being managed without sufficient independent challenge from with-profits committees and firms are...

  • Critical illness cover: the ABI's Statement of Best Practice

    This guide is based on UK law and was last updated on 28th February 2011. The Association of British Insurers (ABI) has decided to retain the term "total permanent disability" (TPD) in its revised...

  • New rules for permitted links

    This guide is based on UK law and was last updated on 27th February 2008. The Financial Services Authority's new rules governing linked long-term insurance business allow firms much more flexibilit...

More guides

Compensation fund confirmed for Equitable Life policyholders

Insurance A fund of £1.5 billion will be made available to compensate Equitable Life policyholders who suffered losses as a result of regulatory failures, HM Treasury announced yesterday. 21 Oct 2010

Equitable Life compensation report 'unsafe and unsound', says Ombudsman

Insurance Parliamentary Ombudsman Ann Abraham has written to every MP to say that Sir John Chadwick's proposals for compensating Equitable Life policyholders are "an unsafe and unsound basis on which to proceed." 27 Jul 2010