MPs meeting with Equitable Life over compensation
Equitable Life chairman, Vanni Treves, has approached senior MPs including Alistair Darling and Shadow Chancellor George Osborne, in an effort to put pressure on the Government to pay compensation to their policyholders as a result of the mutual insurer’s failure.
According to the telegraph.co.uk, the Equitable, the UK’s oldest mutual insurer, was forced to close their doors to new business because of their inability to pay its 1 million+ policyholders their guaranteed annuities.
The government has agreed to respond after the Parliamentary recess. Equitable’s chairman says he will “be spending the summer working really rather hard on lobbying” and requesting meetings the Shadow Leader of the House of Commons Theresa May and Vincent Cable, the Liberal Democrat Shadow Chancellor.
So far, almost 7,000 people have signed up to “The Daily Telegraph’s own campaign calling for compensation”.
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