News

The number of complaints related to advising, selling and arranging rocketed from 647,000 in the first half of last year to almost 1.1 million in the second half, according to figures released by the FSA today.

Legal & General (L&G) and The Mansfield Building Society have announced a new protection business partnership.

Friends Life has announced sales of individual protection on an Annual Premium Equivalent (APE) basis for 2011 are up 55% on last year to £80m, while group protection sales on an APE basis rose to 286% to £22m.

While Friends Life is on track for Resolution hive off in 2014, this is by no means a certainty, Friends Life has said.

The Financial Ombudsman Service (FOS) has set its budget for 2012/3 at £191.1m, meaning both the case fee and total levy will be frozen for the third year running.

Proposed changes to the Financial Services Compensation Scheme (FSCS), opening up eligibility to more parties, are likely to lead to increased compensation costs and higher levies.

The Financial Services Authority (FSA) is readying at least one 'mega fine' in the next three months as figures show it raised significantly less than usual in the first quarter of 2012.

Now Health International, has removed the need for a doctor's signature or original receipts from large group members on all new claims, regardless of size.

Assurant Intermediary has altered the underwriting of its Home Protector and Income Protector insurance products.

Comparison sites are failing to provide consumers with the best deal and should be strictly regulated, Which? has said.