MP report urges government to compensate Equitable Life policyholders

The UK government is under increasing pressure to act on the recommendations of the Parliamentary Ombudsman’s report into the near-failure of Equitable Life. Following the publication of Ann Abraham’s report in July 2008, the Public Administration Select Committee of the UK Parliament has given its support to the Ombudsman’s recommendations and has called on the government to establish a compensation scheme for policyholders who suffered financial loss as a result of the maladministration identified by Ms Abraham.