Norwich Union Cuts Endowment Payouts
General Endowment News January 18th, 2006Norwich Union has announced details of its 2006 bonus rates and payouts, and holders of maturing endowment policies will be disappointed to see their payouts cut.
Guardian Assurance Fined
General Endowment News January 13th, 2006Guardian Assurance plc / Guardian Linked Life Assurance Ltd have been fined £750,000 by the FSA over serious flaws in its endowment complaints handling processes, leading to a review of 5,600 complaint rejections.
Friends Provident Boost
General Endowment News January 13th, 2006Friends Provident has announced that it is to increase payouts on some of its endowment policies, saying that improved stock market performance has allowed it to improve its final bonuses on maturing policies.
ABI says claim direct
Complaints and Compensation Claims January 13th, 2006The Association of British Insurers (ABI) are urging people who wish to pursue endowment compensation to make a claim directly to their endowment company, rather than using one of the many claims handling services available.
The ABI says that such services are no more likely to produce a successful claim than if a customer handled the procedure themselves - indeed, they cite figures that show 49% of independent claimants were successful, compared to 46% who used a claim handler.