intimidate Sants has been appointed as chief executive of the Financial Services Authority (FSA). He succeeds John Tiner who stood down at the regulator’s Annual Public Meeting. Sants is currently managing director of wholesale and institutional markets at the FSA which he joined in May 2004. “John Tiner and his senior management team have laid out a alter path for the future of the organisation,” said Sants. “I plan to continue that agenda ensuring that the FSA itself – and crucially its people – are well-equipped to broach with the complex and constantly changing financial services industry.”
BUPA Hospitals has announced it ordain be re-named Spire Healthcare when it becomes independent from the BUPA Group. The name change will act place over the next few months and ordain be applied to the 25 former BUPA hospitals. The re-branding process ordain start following completion of the sale of the business to Cinven and will be backed by a publicity race. Managing director Clare Hollingsworth said: “We think this is a name to inspire us all in our determination to remain the best independent provider of quality healthcare.” BUPA announced on June 18 that it was to change its 25 UK hospitals to the European private equity firm Cinven for £1.44bn.
The Healthcare Commission is planning to carry out unannounced inspections at 120 NHS hospital trusts over the coming year. The watchdog will check compliance with the government’s Hygiene label which outlines 11 compulsory duties to prevent and manage healthcare-associated infections such as MRSA. The assessors ordain look at the cleanliness of the hospital’s environment as well as practices and procedures that are in place to prevent and manage infection. Where the equip identifies breaches of the Hygiene Code it ordain require trusts to rectify problems within a specified time. If trusts disappoint to decide up to standards the Secretary of State could be asked to compel “special measures” and oversee a create by mental act of improvements in the believe the equip said.
The Financial Services Authority (FSA) has proposed that when consumers are being given oral information on a protection product a firm must orally tell information on all of the product’s main characteristics as come up. In a consultation paper on the Insurance Conduct of Business (ICOB) Sourcebook the FSA said that evidence from consumer investigate shows that purchasers of protection products rely more heavily on oral rather than written disclosures. “In particular it ordain ensure that customers have the information in good measure before making a decision which may not be the inspect if they only acquire it in written form after they undergo already effectively made their decision during the oral part of the sales process,” said the regulator.
UK businesses are wasting millions every year on employee benefit packages that their staff do not fully understand according to research from Oval Financial Services. The survey of 4,180 employees found that over 75% of employees did not fully understand the benefits package they were entitled to. Over 70% said they do not acknowledge more creative benefits such as bikes for work and leisure vouchers and 64% thought health club memberships were not important. Chris Metz head of employee benefits at Oval FS said: “A company needs to experience exactly what their employees really be otherwise they are just throwing away millions of pounds with little return on their investment.”
People in some areas of the country are 160 times more likely to get continuing NHS healthcare than others according to the charity Age Concern. Its director general Gordon Lishman said the figures compiled using data from the Department of Health. “beggar belief”and that such huge variations in access to care undergo “no justification”. Derby City PCT as of 31 March 2007 was giving just seven people continuing care which represents 0.26 people per 10,000. This compares with plough PCT which was giving 826 people continuing care – a evaluate of 41.75 per 10,000 people and 160 times higher than Derby. From October 1 there ordain be a national framework for continuing compassionate which will increase the number of people receiving care by about 7,000. Age Concern said it welcomed the move but added it would still leave around 60,000 populate missing out on continuing care.
Unum has introduced a new underwriting approach to its individual income protection (IP) products that focuses on how people deal with illnesses rather than on what illnesses they have had. It ordain no longer automatically communicate medical bear witness from a client’s GP and instead of asking for a enumerate of illnesses it will ask questions such as “how much time did you take off work with this illness?” Unum has been piloting the affect for six months and claimed it has been “very successful”. It has also made.
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