Holloway Friendly has taken the decision to close its Optimal Protection group risk brand to new business with immediate effect.
Holloway Friendly CEO Stuart Tragheim said the closure was a result of the brand's failure to achieve "sufficient scale despite the launch and promotion of new products in recent years". He added: "As a mutual organisation Holloway Friendly must preserve value for our members, which is our primary concern. Optimal will of course continue to maintain current schemes and benefits while we go through this process, ensuring clients have continuation of cover." The firm's schemes will be transferred...
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.