Cavendish Ware News Today

The UK lags other countries in addressing the economic abuse issue, but insurers can make changes themselves

Protection challenger Guardian has started to issue its first annual income protection (IP) policyholder emails. The messages are being sent to mark the one-year anniversary since its income protection launched. Every Guardian policyholder across all cover types will now receive this email communication from Guardian

Fifty-seven percent of advisers have made changes to the way they approach protection because of Consumer Duty, new study finds. The research by protection challenger Guardian finds that the Consumer Duty is impacting advisers and the way they operate their businesses.

Here they are… the advice firms that have been named one of the 2023 Best Financial Advisers to Work For.

Not all benefits are means tested, meaning people who are better off - and receiving financial advice - could be entitled to them.

Insurers often team up with specialist third parties to provide ‘value-added benefits’ which are not the primary reason for buying protection policies but do enable people to make use of them in their daily lives.

Although financial protection policies come in many forms, they all tend to pay out if a policyholder suffers a serious illness and then survives.

The Protection Distributors Group has welcomed three new organisations into it ranks.   Heath Protection, Towergate Health & Protection and Onestopmortgageshop joined the PDG this November taking the number of members in the trade body to 24.

Lloyds Banking Group (LBG) has announced a deal to acquire protection distributor, Cavendish Online, for £12m.

The protection sector has made some strides this year. It has reacted well to the Covid pandemic and the successful government vaccination programme.