19 August 2009
Sir John Chadwick, appointed by the government to assess losses
and potential compensation for Equitable Life policyholders, has
issued an interim report.
The interim report explores the following:
- How to apportion the appropriate proportion of losses to
apportion to the public bodies.
- The approach for assessing relative loss suffered by
policyholders
- The definitive questions he believes need to addressed
Anyone who wishes to respond to the proposals for compensation
or answer the questions posed by Sir John Chadwick should send
written comments to him by Friday 2 October 2009.
The interim report develops proposals in his document of June
2009. The current report and earlier proposals can be found here on
the HM Treasury webpage:
http://www.hm-treasury.gov.uk/equitablelife_govt_response.htm
Sir John Chadwick received a number of representations on the
earlier proposals published in June. Towers Perrin has been
appointed as advisors to Sir John and are in the process of
reviewing the more than one and a half million Equitable Life
policies that are relevant to Sir John Chadwick work. The next
update in anticipated in the autumn.
