PruProtect has called critics of its desire for protection to be made compulsory as being "defeatist" and argued that the need is "very clear".
In a blog written for COVER, Deepak Jobanputra, actuarial and product director at PruProtect, said an element of compulsion could be a very effective catalyst in increasing consumer understanding of protection insurance. The provider originally kicked-off the debate by making the call for protection to be made mandatory as it released its first half results. However since then several prominent members of the protection industry have dismissed the suggestion. Group risk trade body Grid, called for incentives rather than compulsion, while Roger Edwards, proposition director for Brig...
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