UK - The UK insurance industry suffered a huge blow from the Equitable Life fiasco, where the company was forced to reduce bonuses to policyholders after the House of Lords ruled that guaranteed payments to certain policyholders had to be honoured.
The scandal is still continuing, with rumours of insolvency, and exit penalties imposed on policyholders opting out. This has had a huge negative impact on consumer confidence in the industry. T...
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