Mobile phone insurers need to improve their practices on providing fair outcomes to customers, according to a follow-up review by Financial Conduct Authority (FCA).
A significant proportion (69%) of members in defined contribution (DC) pension schemes in the private sector are not saving enough for retirement, as they are receiving employer contributions of less than 4%.
Torrential rainfall in India and Sri Lanka has caused $3bn (£1.98bn) of economic losses, with insurance payouts estimated at around £300m (£198m), according to Impact Forecasting.
The Pensions Regulator (TPR) has warned public service pension schemes to improve their standards of governance, following investigation on how schemes meet their legal duties.
Current and proposed means tests are acting as a disincentive for people to save for long-term care, the Institute and Faculty of Actuaries (IFoA) has revealed.
Islamic insurance offers London a chance to become a leading global Islamic financial centre outside Islamic nations, but products need to be Shariah-compliant, an event was told.
Insured losses caused by Storm Desmond have been estimated at between £250m-£325m, while the impact to the economy could be between £400m and £500m, according to PwC.
