Biba: Insurance packages 'need careful assessing' by Finance News Bulletin
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Published: 24/04/07
Consumers require to fully understand the terms and conditions of insurance products before signing on the dotted row, according to a spokesperson for the British cover Brokers' Assocation (Biba)Peter Staddon's comments follow the announcement by Prudential last week that it would be selling medical cover packages through high street pharmaceutical seller Boots' storesMr Staddon lauded the fact that consumers would have greater right of entry to insurance products as a result of partnerships such as that between Prudential and BootsHowever, he said that consumers "must appreciate where they are buying it [medical insurance] from", not to mention the "assistance that will be provided in the event of a claim being made"
customers also needed to make sure the minutiae of a package if they were buying insurance from retailers, such as if they were being sold a product from an insurer not domiciled in the UKMr Staddon also said that consumers would receive defense from the Financial Services recompense scheme in the UK, but
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Transparency is the best ethical policy - Published:05/12/07
All times are London time Search information in the FTcom siteSearchSearch speech marks in the FTcom sitespeech marks Your moneyBreadcrumb trail navigation:FT house > Your moneyServicesJust two years ago, there were 50 ethical funds in the UK nowadays there are almost 90 Just three years ago, assets under organization in ethical funds sumled £45bn Today, they sum almost £8bn And as climate change not only takes centre stage in British government, but also seeps ever deeper into the sense of right and wrong of the UK public, these numbers will carry on to rise exponentially So while ethical investing remains a niche division for now, it will soon break into the mainstreamInevitably, therefore, additional and additional fund organization houses will feel they have little choice but to launch an moral product The problem is, many simply don’t have the experience, or knowledge, to do so“There is no lack of funds that don’t know what they’re doing”, says Lee Coates, director of consultant Ethical Investors Group He cites one instance of a manager that devised its own ethical agenda but completely deserted to include any human rights or environmental impact criteria, and this even after an self-governing ethical data provider had been consulted It acted in good confidence, but just did not have the necessary expertiseMany funds, then, may not be quite as moral, green or sustainable as investors might expect For example, CIS Sustainable best invests in companies involved in alcohol, animal testing, betting and pornography Old Mutual avoids all these sectors, but has contact to nuclear power In fact, some funds will spend in companies that just acknowledge ethical issues even if they do very little to confront them Mining stocks that recognise their environmental crash, for example, can often be deemed satisfactory Coates cites Neptune’s Green earth and SVM’s All Europe SRI as examples of such money He also steers well clear of Prudential’s Ethical Trust as so small information about its investment criteria and underlying assets is availableAnother area that can mislead investors is appointment This is when fund managers, as shareholders in a company, lobby for change from within It may noise admirable, but, as Coates reveals, at most excellent: “Managers don’t get to the meat of corporate activity, but be inclined to focus on very yielding issues – such as disclosure – where change is more easy to effect Deadlines are very rarely put and the underlying danger of disinvestment is never used” At worst, engagement can be used by managers as an reason to spend in companies with questionable ethical credentials under the alleged reason that they are pressing for positive change This means finance managers can take advantage of investment opportunities that should rightly be off limits by recycled paper to print pornography”, jokes Coates, “would not suddenly make its publisher satisfactory to most moral investors”But there are a number of very strict ethical money available in the UK, and none more so than that sprint by Aegon Asset Management It cannot invest in all the usual arms, tobacco and pornography sectors, but also excludes all stocks that are involved in creature testing and plant farming, for example, which include all supermarkets and transport companies Other strict money include Henderson Global Care Growth, Jupiter Ecology, Norwich Union Ethical UK and Standard existence UK EthicalBut there is no solitary definition of what constitutes ethical, so each fund is different This is because each individual has his or her own view of what constitutes right and wrong So investors have to be comfortable with the underlying assets of the fund they intend to invest in And that means transparency is the most important subject when investing in an moral fundMany fund managers are well aware of this but others are not so forthcoming They should be content to provide comprehensive information on their ethical investment permission and criteria This includes details of the three broad strategies used by ethical finance managers: screening, where companies are deemed both unacceptable and acceptable depending on their behavior; preference, where companies are rated according to their moral, social and environmental impact; and engagementSome of the issues built-in in these strategies are: human human rights policies, codes of business conduct, environmental policies and organization systems, equal opportunities, training and development, job creation and safety, child labour programmes and community involvement – not just for the company itself but those that make up its provide chainCopyright The Financial Times Limited 2007BlogsBrussels BlogCharles PretzlikClive CrookDear LucyEconomists’ ForumEnergy FilterJohn GapperGideon RachmanTech BlogThe Undercover EconomistWestminster BlogWillem Buiter’s MavereconRegional pagesLatin American agendaChinaIndiaBrusselsInteractivePodcastsDebates & pollsAsk the expertMarkets Q&AJobs and classifiedsBusiness for saleContracts & tendersJobs look for Type your search criteria below:* smallest amount delay 15 minutesAll times are London timeFT HomeSite mapContact usHelpAdvertise with the FTMedia centreStudent offersFT ConferencesFT investigate CentreFT SyndicationCorporate subscriptionsFT GroupPartner sites: Chinese FTcomLes EchosFT DeutschlandExpansionInvestors ChronicleExec-Appointmentscom© Copyright The monetary Times Ltd 2007 "FT" and "monetary.
Read More: Transparency Is The Best Ethical Policy >>Biba: Insurance packages 'need careful assessing' - Published:24/04/07
Consumers require to fully understand the terms and conditions of insurance products before signing on the dotted row, according to a spokesperson for the British cover Brokers' Assocation (Biba)Peter Staddon's comments follow the announcement by Prudential last week that it would be selling medical cover packages through high street pharmaceutical seller Boots' storesMr Staddon lauded the fact that consumers would have greater right of entry to insurance products as a result of partnerships such as that between Prudential and BootsHowever, he said that consumers "must appreciate where they are buying it [medical insurance] from", not to mention the "assistance that will be provided in the event of a claim being made"customers also needed to make sure the minutiae of a package if they were buying insurance from retailers, such as if they were being sold a product from an insurer not domiciled in the UKMr Staddon also said that consumers would receive defense from the Financial Services recompense scheme in the UK, but.
Read More: Biba: Insurance Packages 'Need Careful Assessing' >>Prudential aims to help UK residents find a remortgage - Published:08/11/06
Mortgage provider Prudential is hoping that increasing the number of advisors for equity release will help many UK people to find a remortgage The company states that more UK people are looking to find a remortgage to boost their profits after reaching departure, with 129 million saying they will be relying on income from their property Prudential hopes that by rising the number of advisors, better face-to-face service will be provided in a division which is rapidly growingNick Prettejohn, chief executive for Prudential UK, commented: "This is an thrilling time for the life mortgage business ""More providers, greater innovation and more choice are all good news for clientele; however, there is a genuine concern that access to expert opposite advice is increasingly hard to find"Mr Prettejohn continues that face-to-face advice is important for clientele looking to find a remortgage and each of the company's new advisors will be fully fitAli Crossley, the director responsible for Prudential's lifetime mortgages, recently fixed that the number of UK people looking to find a remortgage was "encouraging"Today's Most Popular Results Mortgage Enquiry shape Need Life Insurance ------ Mortgages - Information Mortgages - Home ------ Financial Services - HomeNone of the in order on this website is future to promote any specific mortgage product or provide mortgage advice Mortgagescouk is a non-regulated trading name of monetary Services Net Ltd[Terms & Conditions]more sites:car cover home insurance |.
Read More: Prudential Aims To Help Uk Residents Find A Remortgage >>