'A long way to go' for trust simplification

But 2021 could be a turning point

Adam Saville
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Ron Wheatcroft is technical manager for Swiss Re.
Image:

Ron Wheatcroft is technical manager for Swiss Re.

Recent events have created problems for life insurance trusts that are only going to get worse, says report

While steps are being taken by insurers to simplify the trust process, the protection industry still has a long way to go, Swiss Re technical manager has highlighted following a new co-authored report from Swiss Re and Insuring Change. Following anti-money laundering legislation in 2019, the ‘Life cover payouts - changing direction' review highlights the unintended consequences of the regulation on life and critical illness (CI) insurance claimants, despite an exemption being brought in for pure...

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