Going, going ... the last few windfalls

Article Abstract:

It is unlikely that further large windfall payments will be made by UK building societies and insurance companies that abandon mutual status and become public companies. Indeed, many of the building societies that still have mutual status have adopted measures to protect themselves from people speculating on receiving a large payment if they decide to de-mutualize. However, there are a number of ways in which eligibility for windfall payments can be secured. Some building societies are still offering Tessas with membership status, and the ownership of Pibs also gives membership status.

Savings & Loan Assns, Savings Institutions, Savings and loan associations

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Pennies that can add up to pounds

Article Abstract:

There are difficulties associated with valuing penny policies, a form of insurance policy taken out to meet funeral costs. An investigation by The Independent has revealed that insurance companies are paying incorrect surrender values for these policies, which were very popular until the 1960s. There are still large sums of money due to be paid out under penny policies, and it is believed that many payouts have gone unpaid on deaths.

United Kingdom, Strategy & planning, Funerals

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Who pays the price of failure?

Article Abstract:

Issues raised by the collapse of Independent Insurance are discussed. The collapse, which observers attribute partly to the incidence of no-win, no-fee claims, came as a surprise to the market.

Independent Insurance Group PLC

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