Govt "enthusiastic" about protection market benefits - Verdin

clock

The government is "enthusiastic" and "engaged" with the protection industry to support its attempts to cut welfare spending, according to Richard Verdin.

However Verdin, who is a senior industry figure with more than a decade of experience in the market, also warned that it was slowly dying and urged for a concerted coordinated effort by the whole industry to produce long term sustainable growth. Speaking on a personal basis at the Actuarial Profession's Health and Care Conference, Verdin explained his serious concerns about the present state of the market and its focus on technicalities. "Since 2006 the protection market has been dying bit by bit, year by year," he said. "We are an industry that's overly focused on the product not ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

The return of redundancy cover – and why it's important

The return of redundancy cover – and why it's important

Standalone unemployment insurance is making a comeback

Kesh Thukaram
clock 02 April 2025 • 3 min read
PDG responds to FCA Pure Protection Market Study update

PDG responds to FCA Pure Protection Market Study update

Expanded terms of reference

Cameron Roberts
clock 31 March 2025 • 2 min read
FCA: Protection commission ban is potential 'extreme' market study outcome

FCA: Protection commission ban is potential 'extreme' market study outcome

FCA: 'We're going into this with an open mind'

Jaskeet Briah
clock 28 March 2025 • 3 min read