Expert insight, analysis and commentary across the entire protection industry.
by ProtectionReview 30/10/12
So the Mortgage Market Review is finally upon us and we've still got around two years before it is fully implemented, but what does it all mean and are there implications for the protection industry? Significantly, the responsibility for whether a borrower can afford their mortgage (now and in the future) and whether those having an interest only mortgage have a credible means of repaying the capital now lies in the hands of the lender. Clearly this takes empowerment for managing a sizeable chunk of the household budget away from the individual or couple and this, in theory would impact…
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by ProtectionReview 09/10/12
Jackson Reforms spells good news for Insurers Those of you who have had the unfortunate pleasure of being on the receiving end of a litigious claim will be pleased to learn that Lord Jackson’s proposed reforms to costs of civil litigation will have a beneficial outcome for Insurers. In November 2008 Lord Justice Jackson was appointed to lead a fundamental review of the rules and principles governing the costs of civil litigation and to make recommendations in order to promote access to justice at proportionate cost – ‘The Jackson Review’. This led to the Legal Aid, Sentencing and Punishment of…
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by ProtectionReview 25/09/12
When the going gets tough It’s a difficult time for most Providers. There are significant current and potential changes in the industry. We have RDR, MMR, Solvency 2, Gender-neutral pricing, Auto enrolment and NEST, for example. Change can be seen as an opportunity or threat. How we deal with the situation is key.You can be revolutionary or reactionary. In my view sitting back and waiting for situations to evolve should not be an option. At the least it shows a lack of imagination, and also allows others to gain competitive advantage. Situations, particularly in our industry it seems, will…
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by ProtectionReview 11/09/12
Digital embargo With holiday season over for most of us, post-holiday sentiment seemingly ranges from; “refreshed and raring to go” to “holiday? What holiday?” I generally sit in the former camp and I’m convinced this is because of my self-imposed digital detachment which sees me switch off email and set everything to voicemail whilst abroard. No twitter, no linkedin, no facebook, no pinterest, no newspapers, no TV, no DVDs. Furthermore, this embargo is extended to the family. IPod games are fine, but that’s it. The exception is if one of the kids is ill, then a bit of TV is…
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by ProtectionReview 11/09/12
The summer holidays are now behind us, Christmas beckons as the next milestone. For many that means back to business as usual, budgets, targets and delivery. The individual, with personal hopes and aspirations parked in the lay-by of organisational imperative, is back on the treadmill that keeps our market economy working. As one who believes passionately in a competitive market economy, this is fine by me; and as one who has trodden that ceaseless mill for a decade or two, may I offer a few random-but-related thoughts, before we get too business as usual? We do it because? These words…
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