EQUITABLE LIFE

Early day motion 1341, tabled 10 January 2006 by Fabian Hamilton (Labour). Signed by 69 members.

That this House regrets that many Equitable Life pensioners have suffered hardship as a result of the mismanagement by the Society and the failure of the regulatory system to protect policyholders; notes that many Equitable Life pensioners continue to face hardship in spite of the publication of the Penrose Report in March 2004; believes that the Treasury should examine carefully claims for compensation from policyholders who have genuinely suffered loss of income; and agrees with Lord Penrose that better regulation of life assurance companies must be introduced by the Government to replace the light touch of which he was so critical.

Signatures by party: Labour 45, Liberal Democrat 13, DUP 5, Conservative 3, Plaid Cymru 1, Social Democratic and Labour Party 1, UUP 1.