nib has been doing deals to expand on both sides of the Tasman. Quickly following the announcement of the purchase of OnePath's medical book and the association distribution deal nib Australia has announced a plan to sell health insurance to Qantas frequent flyers. Link.
Seven Families, the charity-led campaign with Disability Rights UK, has ‘considerably helped to raise awareness of income protection' amongst advisers, according to an adviser poll.
The research was conducted among 20 of the most prominent UK protection adviser firms and networks in October 2015. Almost a third (31%) said they believed Seven Families has greatly raised the profile of income protection with advisers, with a further 63% saying it had raised IP's profile a little.
Zurich answers the question 'What's the income Protection gap?'
'The income protection gap is the reduction in household income as a consequence of the death or incapacity of an adult wage earner on whom that household relies, taking all public and private sources of replacement income into account.'
Here is a video of why families fall into hardship when an unexpected event leaves a family member with a disability or even premature death.
The Ministry of Consumer Affairs has this warning on frauds perpetrated on small business. The bad news is that these are rising sharply, and they are mainly online. The good news is that they are avoidable with some common sense and care. Link.
According to the latest data from the Financial Conduct Authority the number of financial advisers operating in the UK has increased 5% in the last year as the industry edges closer to pre-Retail Distribution Review (RDR) levels.
Figures showed there are currently 22,557 financial advisers operating across 4,504 firms. Read more in this article by Cover Magazine.
David Yates is quoted in this piece by Tamsyn Parker writing in The New Zealand Herald on the consequences of implementing commission restriction. Link.
GDP per capita measures the average income per person in a country.... As you explore the health data you'll find this Map and Chart a useful tool. Use it to add perspective to various causes of death throughout the world.
The options paper is encouraging. A measured approach, well-targeted, and looks like good coverage of the issues. Obviously there are many details about which reasonable people may disagree. Some things are left undone. On the path to a better financial services sector much of this looks like the right next steps.
I shall write a detailed review shortly, and share that with clients first in our quarterly life industry review, but I felt that I should recognise the good work that has obviously gone into this. Clearly that's the perspective of someone soaked in the insurance part of the overall sector. I hope the investment folks find as much encouragement. I shall get briefed on that properly when I meet to review the document with Rob Dowler.
This article from interest.co.nz has David Caygill, former Labour Finance Minister, reflecting on the lessons learned from the Canterbury earthquakes as he reviews the new Fair Insurance Code.
“Please, please stay in touch with your customers. The worst aspect of the last five years has been the long silences. The periods of months at a time where you could get no sensible answer at all.” Caygill says.
RGA has this new report on e-cigarettes. They don't like them, and while research evidence remains thin, it looks like even non-smokers should not like them either. The surprising item for me was that the report suggests that far from producing nothing but water vapour in the atmosphere there is a cocktail of chemicals that can affect people around the person using the e-cigarette in ways which are similar to the consumption of second-hand smoke - just less noticeable. Link.