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financial advisers like Treorchy’s Lifestyle Financial Choices tend to be members of a network.
Commissions from insurance companies are paid to IFAs like Lifestyle through the network.
Lifestyle claims that the closure of network company Interlink has cost them 100,000.
David Westcott is a Director of Lifestyle Financial Choices.
Cash inflow […]
The insurance industry has been accused of being “in denial” over sales techniques which encouraged people to leave the Serps part of the state pension scheme and put money into a personal pension instead.
Theresa Fritz, Principal Researcher at the consumer organisation Which?, told BBC Radio 4’s Money Box programme the problem could affect four […]
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insurance company St Paul Travelers could be in merger talks to acquire Zurich Financial Services, the Wall Street Journal reports.
If the deal is confirmed, it could be one of the biggest liability financial loss insurance for contractors
of a European firm by a US company.
The two firms had a […]
German reinsurance giant Hannover Re has become the first reinsurance firm to warn that the cost of Hurricane Katrina will pull its profits lower.
The firm said its full year net profit would reach “at least” the 2004 level of 309.1m euros ($386m; 211m).
That is 30% lower than its previous forecast of 430-470m euros - a […]
The City watchdog has been cleared of accusations that it failed to carry out its role during the period leading up to the collapse of Equitable Life.
Parliamentary Ombudsman Ann Abraham said she had found no evidence in her report to suggest that the watchdog failed in its regulatory responsibilities between January 1999 to December […]
Insured losses from Hurricane Rita will be “significantly less” than Hurricane Katrina, according to the world’s largest reinsurer.
Shares in Munich Re and other European insurers rose sharply on Monday after US forecasters said claims for insured losses may be as low as $6bn (3.3bn).
This compares to estimated losses from Katrina ranging from $15bn to $60bn.
Experts […]
The government is bracing itself for the findings of a report into the Equitable Life scandal.
The report, penned by judge Lord Penrose, and published on Monday, is expected to apportion blame for the near collapse of the Equitable.
The Equitable made financial promises to a large group of its own policyholders that it could not keep.
Policyholders […]
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, the operator of exotic all-inclusive holiday resorts, has blamed the deadly Asian tsunami for a drop in quarterly bookings and sales.
Turnover in the three months through January fell 6.9% to 319m euros (223m; $429m), from 342m a year earlier.
Club Med was forced to close a number of holiday villages […]
Comedian Jim Davidson has appeared in court to face a damages claim from a woman who says she was hurt in a fall at a pier complex which he ran.
Mary Kyne, 52, alleges she was injured when she slipped on a patch of grass and tripped over uneven concrete at Wellington Pier in Great Yarmouth, […]
An internal inquiry into activities at a party held at Durham’s Gala Theatre has found “no evidence” of drug use that would lead to criminal charges.
Durham City Council began an investigation into the alleged “inappropriate use” of the recently opened 14m theatre after reports of a Halloween Party at the venue.
The allegations came to light […]