Defaqto

Choosing the right provider is key to advisers considering the business protection market Defaqto has said in a new guide to the sector.

More people have used professional advice when considering financial products than a year ago but the majority still do not see it as necessary, according to research.

The latest issue of COVER included a report that some members of the protection provider community, including the ABI, were unhappy with the way third party agencies rate products.

The Competition Commission's first set of remedies for payment protection insurance (PPI) were introduced on Saturday.

Defaqto and other ratings agencies have been attacked for "driving the wrong behaviour" by encouraging product complexity and being "in danger of misleading consumers".

Defaqto has released a guide to short-term income protection (STIP) and said it believes new opportunities are emerging in the market despite the mis-selling of payment protection insurance (PPI).

It is perhaps not a little ironic that on the eve of deadline day for three major banking groups to resolve their pre-judicial review payment protection insurance (PPI) complaints, another possible ‘protection' mis-selling scandal is uncovered.

Defaqto has warned that the public should not be turned off protection products following the fall out of the Payment Protection Insurance (PPI) mis-selling scandal.

Defaqto's publications have been recognised as contributing to continuing professional development (CPD) by the Institute of Financial Planning (IFP).

Defaqto has published a free guide highlighting opportunities in the critical illness sector for advisers.