The Findings - Winning Advisers, 13 October 2015 - Tylney Hall, Hampshire
Facilitated and written by: David Ingram, AIM TWO THREE
Expert: Chris Lennon, Lockton
Headline finding 1:
Those dealing with tax avoidance schemes (DOTAS) are finding cover harder to obtain. Part of this is fraudulent claims – which tend to be a very high level.
Headline finding 2:
Non-disclosure is the number one issue. It should always be disclosed when advising in areas not explicitly included in cover.
Headline finding 3:
Employee benefit trusts and UCIS are a continuing source of concern.
Headline finding 4:
Underwriters are concerned over evidence in insistent client cases.
Headline finding 5:
The largest source of claims includes:
a) Mortgage endowments
b) Whole of Life as savings
c) Pension transfers
Any next steps?
a) Would welcome a review of the possible benefits of a common form
b) Would like to take part in the financial advice market review consultation