What is there to complain about this week?
Cashing in
The compensation culture is a smokescreen created by the insurance industry to mask its drive to bump up profits, says Law Society chief executive Des Hudson. He wants the government to suspend its ‘no win, no fee’ deal reforms.
No thanks
Solvency II is “shockingly bad”. Who says? CBI director-general John Cridland, who told the business body’s annual London dinner that the proposed insurance directive could undermine insurers’ ability to fund much-needed infrastructure investment.
Togetherness
The ABI should work more closely with the Investment Management Association on regulation issues, says academic Professor Merlin Stone. At a conference last week he said investors risked being sidelined by banks.
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