There has been much to smile about this year in the group life market, but as Owain Thomas discovers, there is still one problem that could see advisers on the hook for millions of pounds in uninsured liabilities
NEST (the National Employment Savings Trust) could open the door to expansion of the group life market, according to new research.
Advisers could be on the hook for millions of pounds in uninsured losses if they fail to act on the imminent A-day deadline, according to a specialist group risk intermediary.
More older people are still at work after reaching 65, figures from the Office for National Statistics (ONS) have shown.
Canada Life has revised its online intermediary portal with a range of amendments.
Grid has added its voice to the warning that many businesses are not prepared for the upcoming ‘A-day' deadline for group life schemes.
Canada Life has warned intermediaries and group life scheme trustees to be aware of the impending deadline affecting the operation of these policies.
Unum has launched the UK's first fully fledged group risk scheme that can be fully funded by employee contributions alone.
Resolution has completed its acquisition of Bupa Health Assurance (BHA), comprising its Group Risk and Individual Protection businesses.
The group risk industry should be smiling broadly not merely breathing a sigh of relief following the confirmation of an exception from retirement age legislation, said Swiss Re.