'More sinned against than sinning.' (regulation of UK insurers)

Article Abstract:

The UK insurance ombudsman made a wide range of awards from 3 pounds sterling to 167,000 pounds sterling, in 1995. Decisions went against policyholders in 51% of the cases investigated. The ombudsman is concerned about the usage of commission for insurance salesmen and he seeks greater disclosure. The number of cases processed increased by 4.5% in 1994, and each case was processed in an average of 4 months. The increase in cases is likely to be linked to increasing awareness among consumers.

United Kingdom, Ombudsmen

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Log jam remains over pensions mis-selling

Article Abstract:

The UK insurance industry has been criticized for dealing with pensions mis-selling too slowly but the industry argues that it is making efforts to meet deadlines. Employers' pension schemes argue that they have been willing to provide information and the insurers have moved too slowly. There has been a problem in allocating enough staff to deal with the issue, and insurers have been criticized for dealing with the problem in a time-consuming way, looking at individual cases.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Pensions

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