Barclays to send out 6-mth timebar letters

A statement issued yesterday by the banking group says the firm will send out letters six months before the deadline, which is beyond the requirements of the FSA’s three-year timebar rule. Although the Association of British Insurers’ requirement is for companies to send update letters every two years for every policy which has a shortfall - those with the biggest shortfalls are colour-coded voluntarily by firms with red markers – however Barclays says it has been sending its clients the latest projections every year since 2000. This means any of Barclays’ 130,000 endowment clients wh...