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Protection market review - September 2016

Protection market news update for September 2016


Brexit delivers milder than expected blow to City jobs
Fallout from the vote for Britain to leave the European Union has been reflected across the board in July's employment data, with month-on-month available jobs dropping by 12 per cent.        

Hopkins and Heeney join the IPTF executive team
The executive team which supports Peter Le Beau , the chairman of IPTF in drawing up the strategy and objectives for the organisation, comprises Richard Walsh, John Gillman, Roy Mcloughlin and Teresa Fritz following the retirement of Karin Lloyd.   


Fresh call for protection to be part of mortgage advice
As the link between mortgage brokers and protection sales shows signs of weakening, calls for cover to be a mandatory part of the conversation have come to the fore again.        

ABI committee appoints Royal London director as chair
Royal London's finance director Tim Harris has become chairman of the Association of British Insurers' prudential, financial and taxation committee.            


L&G's protection training sees record adviser uptake
A record 5,315 advisers attended Legal & General protection training seminars during the first half of 2016, an 86 per cent increase on the first half of last year and more than the whole of 2015.        

AIG launches three condition CI cover
AIG Life has launched Key3, a simpler form of critical illness insurance which pays a lump sum upon diagnosis of one of three key medical conditions - cancer, heart attack or stroke.               

Royal London will not add CIC to its relevant life plans
Royal London has will not be adding critical illness cover (CIC) to its relevant life plan (RLP), reviving a debate started up at the start of this year.        

The Exeter offers free cash plan cover with new PMI policies
The Exeter has come up with a new offer to help advisers boost their sales during the slower summer months.           

BHSF launches product to bridge statutory sick pay gap
BHSF has launched a sickness and injury benefit for employers to bridge the statutory sick pay gap and ease employees' financial worries during illness or injury.        

Zurich adds protection to 'FutureYou'
Zurich is adding protection solutions to FutureYou, its digital proposition for workplace retirement scheme customers that was launched in May.            

Grid rebrands with website launch
To launch the fresh, modern look the group risk organisation has completely redeveloped its website. The new website offers additional support with a dedicated members' area.            


Nine in ten employees underestimate income protection need
The majority of workers underestimate their chances of becoming unable to work due to illness or serious injury and so discount the need for income protection, according to research from Canada Life Group Insurance.        

Mental illness affecting more employees than ever
Mental illness has become the number one threat to the health of the UK workforce, bosses at large and medium-sized British firms have claimed.

One in three families 'a paycheck' away from homelessness
One in three families in England could not pay their rent or mortgage for more than a month if they lost their job or were unable to work, a study for the charity Shelter suggests.     


Why we need annual protection statements
To be the cornerstone of all financial advice the protection industry should provide annual statements to clients, writes Roy McLoughlin...

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