In twist on the usual mis-selling claims, a financial adviser is asserting that a change in Norwich Union’s calculation of estimated maturity values has led the IFA to become subject to an endowment mis-selling claim. (more…)
As the effects of the credit crunch widen there are heightened concerns about the safety of insurance and investments. While there is plenty of discussion about bank deposits and savings, there has been little media coverage about the safety of endowments and protection for policyholders. (more…)
The Financial Services Compensation Scheme (FSCS) is reminding consumers they can claim up to £48,000 if they have lost money from any of 27 investment firms recently declared in default. The scheme offers a free service to customers of authorised financial services firms. (more…)
Norwich Union has cut bonus payouts for with profits policy holders. The cuts of up to 10 percent in final bonus rates will affect a total of two million policies and are effective as of September 1. Norwich Union said that regular bonus rates would be unchanged and Market Value Reductions (MVRs) are not being introduced. (more…)