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In brief …
November 2008 News
PATIENTS ‘UNAWARE’ OF CHOICE
Fewer than half of NHS patients are aware that they have a choice of hospital in which they can receive treatment. The most recent National Patient Choice Survey for the Department of Health shows that just 46% of patients recalled being offered a choice of hospital for their first outpatient appointment. The figures from the Patient Choice Survey also show that most NHS patients (77%) are satisfied with how long they have to wait from the time their GP referred them to when they see a hospital specialist. Further, hospital cleanliness and low infection rates were selected most often (by 75% of patients) as an important factor when choosing a hospital.
NHS ‘MAKING PROGRESS’
The NHS in England has met its commitment to ensuring that 90% of patients who require admission to hospital – and 95% of patients not needing admission – start treatment within 18 weeks of referral from their GP. The Department of Health (DH) said that the so-called “18 Week target” has been met five months ahead of the end of December 2008 deadline. According to the DH, the median referral to treatment time waited by patients who were admitted for treatment has come down from 18.8 weeks in March 2007 to eight weeks in August this year.
UK SOCIAL CARE SYSTEM ‘FLAWED’
Britain’s system for assessing whether a person is eligible for publicly-funded social care is “flawed” and should be scrapped, according to the official regulator. A report from the Commission for Social Care Inspection (CSCI) says a national framework for assessing care needs should be introduced in place of the current system of care rationing. CSCI admitted that all of its suggestions outlined in the report fail to address the fundamental problem with social care which is simply that it is seriously underfunded. The full report, which was requested by the government, can be accessed by visiting
JOHN CHARCOLAND L&G DEAL
Legal & General has signed a single-tie distribution agreement with mortgage adviser John Charcol. The deal means that although John Charcol will continue to advise on mortgages throughout the market, under the new deal it will only sell L&G protection and mortgage payment protection insurance.
FOS TO ‘NAME AND SHAME’
The Financial Ombudsman Service (FOS) is planning to publish data about financial businesses with the worst record of complaints. The decision, which follows an independent report by Lord Hunt of the Wirral, published in April 2008, means that the FOS will effectively “name and shame” the 150 companies who produce the most cases of complaints. It will also publish the percentage of “upheld” complaints, where the outcome changed in favour of the consumer following the ombudsman service’s involvement.
ABI AND FSA IN PPI FACE OFF
The Association of British Insurers has jumped to the defence of payment protection insurance (PPI), after the Financial Services Authority (FSA) said it is to ramp up its scrutiny of how the product is sold. In an update on its thematic review of sale of PPI, the FSA said that “due to the poor findings from its recent work, it is escalating its regulatory intervention”. The regulator said that in an effort to tackle “ongoing non-compliant sales practices” and “non-compliant past sales” of PPI, it plans to “use a range of regulatory powers at its disposal”. The stark warning prompted an immediate response from the ABI which said that the insurance industry has been striving to drive up sales of the product so that customers can get access to “valuable cover” during what it called “uncertain economic times”.
RECORD £7M PPI FINE
The Financial Services Authority (FSA) has fined Alliance & Leicester plc (A&L) £7m for “serious failings” in its telephone sales of payment protection insurance (PPI). For three years from January 2005 to December 2007 A&L sold approximately 210,000 PPI policies to customers seeking a personal loan at an average price of £1,265, but according to the FSA there was a “general failure” by advisers to give customers details of the cost of PPI. In addition, A&L sought to find reasons to sell PPI without properly considering what customers needed, the regulator said. A&L failed to make it “sufficiently clear” that PPI was optional and it trained its staff to put pressure on customers where they queried the inclusion of PPI in their quotation or challenged advisers’ recommendations, the FSA said.
ONLINE PROTECTION CALCULATOR
Bright Grey, Royal London’s specialist protection business, has launched an online lifestyle calculator for advisers, designed to work out clients’monthly expenditure and help demonstrate how much protection they can afford. The calculator illustrates how the cost of everyday subliminal purchases mount up over the course of a month. Advisers can then use the total of their clients’ monthly spend and compare it with examples of protection costs for four different life stages. It can be found at
WOMEN ‘NEED MORE PROTECTION’
Although there has been a “dramatic” rise in the number of female breadwinners, nearly half of all working women in the UK do not have any form of financial protection, research has shown. The “significant increase” in female economic activity over the past 30 years has failed to be matched by an understanding of the need to protect that income and lifestyle, AXA said. Research commissioned by the insurer shows that although the number of women of working age is projected to overtake the number of men of working age in 2018, eight million working women who do not have life insurance, critical illness or income protection cover could potentially face serious financial shortfalls should the worst happen.
PIONEER OVERHAULS IP PLAN
Pioneer has made a number of changes to its Professional Income Protection (PIP) plan, including an increase to the maximum benefit on offer from 40% of salary to 50%. More significantly, perhaps, the provider said it will now allow customers to choose between underwriting on acceptance or at point of claim. The latter change means that the amount of money a customer receives in the event of a valid claim would depend on their salary level either at the time they took out the policy or at the time they made the claim, depending on which method of underwriting they chose. Previously, the PIP plan, launched last year, meant that all financial underwriting took place at outset. However, Pioneer said market feedback has prompted it to offer customers the choice of how they are underwritten.
LV= TARGETS HIGH NET WORTHS
LV= has launched a “brand new” large case service across its range of protection products for financial advisers’ high net worth clients. A dedicated team has been set up to deal with larger cases which can often be more complex and typically can require more information prior to underwriting. The dedicated team will provide advisers with a single point of contact throughout the application process.
AON LAUNCHES OH AUDIT SERVICE
Many occupational health (OH) service providers are falling short on basic performance and delivery expectations, according to Aon Consulting. Aon said that while there have been some developments in the OH market, employers are increasingly concerned with integrating all activities concerned with managing employee health. As a result, Aon said it has launched a new OH Audit Service to assist employers in “actively managing” employee health.
MAJOR OCC HEALTH CONTRACT WIN
NHS Plus, the national network of over 100 NHS occupational health units across England, has won its first nationwide contract. The organisation will provide OH services to NHS Direct, the provider of telehealthcare information and advice. Led by Health at Work at Imperial College, in partnership with 31 NHS Plus network members, the new national contract will deliver services for NHS Direct’s 3,200 employees.
BRIT ABSENCE AND REHAB SERVICE
Brit Insurance, the UK-based international general insurance and reinsurance group, has launched an absence management and rehabilitation service which is free to all of its employers’ liability policyholiders. The Brit Absence Management and Rehabilitation service will be available for small businesses to FTSE 250 customers, whether that cover is standalone or part of a Combined or Package product, Brit said.
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