Johnny Timpson: Let's not rest on our laurels despite individual protection growth in 2017

clock • 2 min read

Individual protection is in a position of strength at the beginning of 2018 according to early data but we should be cautious in the face of economic uncertainty and industry challenges, Scottish Widows' Johnny Timpson has advised.

Recent data from IRESS, Equifax Touchstone and other sources might reflect the growth of individual protection in 2017, however Johnny Timpson, financial protection technical and industry affairs manager of Scottish Widows Protect has urged the industry to avoid complacency in the face of an unstable economy. He said: "Let's not rest on our laurels as the next 12 months will bring continued economic uncertainty and stagnant wage growth." Factors such as increased living and transport costs, the Bank of England base rate and auto-enrolment pension contributions rates will all put added...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

BIBA names Julie Comer as head of compliance

BIBA names Julie Comer as head of compliance

Helping members with compliance queries and concerns

Jaskeet Briah
clock 20 March 2024 • 1 min read
FCA unveils measures for more transparent enforcement cases

FCA unveils measures for more transparent enforcement cases

Consultation process initiated

Sahar Nazir
clock 27 February 2024 • 2 min read
Vulnerable client processes: What the FCA wants from advisers

Vulnerable client processes: What the FCA wants from advisers

Proactive approach in identification and support

Alexander McGregor and Kris Armstrong
clock 26 February 2024 • 4 min read