RAISING STANDARDS INITIATIVE AND CO-OPERATIVE INSURANCE SOCIETY

Early day motion 473, tabled 26 November 2001 by Paddy Tipping (Labour). Signed by 102 members.

That this House welcomes the Raising Standards Initiative, a voluntary scheme launched by the financial services industry with the support of the Association of British Insurers that aims to promote customer understanding and awareness of financial products; notes that companies participating in this initiative will be assessed against minimum standard benchmarks set by an independent body, the Pensions Protection & Investments Accreditation Board; welcomes the fact that fifty financial services providers support the initiative; notes that the Co-operative Insurance Society (CIS), Norwich Union, Scottish Equitable, Scottish Widows and UNUM were awarded the Raising Standards Quality Mark in the first wave of accreditation on 16th October; and commends the CIS which has pledged to go beyond these minimum standards by sharing its experiences with other financial services providers so that more can gain accreditation and for engaging with consumers and other stakeholders to build trust in the financial services industry.

Signatures by party: Labour 69, Labour/Co-operative 16, Liberal Democrat 13, UUP 2, DUP 1, Plaid Cymru 1.