Sir Andrew Dilnot reiterated calls for a cap on care costs in order to remove the "catastrophic risk facing us all" and to help stimulate the market.
Speaking at the inaugural Royal London annual lecture on Thursday, Dilnot (pictured) said "catastrophic" care costs were the "last big unpooled risk" that citizens face. He called for action to deal with the "broken" care market, saying a mixture of social insurance and new forms of private sector financial services would help to make sure people were better protected. According to Dilnot, a cap on care costs would help to make private care policies viable for providers and stimulate innovation...
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.
Scott Cadger runs through the four most common reasons people give for not taking out critical illness cover - and some suggestions on how advisers can offer reassurance on each in conversations with clients
The Financial Ombudsman Service (FOS) has sought to provide clarity regarding any potential confusion over the products advisers should recommend to clients to cover a decreasing loan or mortgage.