Proud to be independent
Last year, Bluefin Insurance Services was fined £4m by the Financial Conduct Authority (FCA) for having inadequate systems and controls and failing to provide information about its independence in a way that was clear, fair and not misleading to customers.
Between 9 March 2011 and 31 December 2014, Bluefin, which was wholly owned by the insurer AXA UK at the time, held itself out to be truly independent in the advice it provided and the insurers it recommended to customers.
Through Bluefin, the regulator was sending a clear message to the industry that if firms misrepresent themselves to customers there will be penalties. Mark Steward, executive director of enforcement and market oversight at the FCA said: “It is unacceptable that firms hold themselves out as independent when they are not.”
IHC is and has always been independent. “Our independence is at the heart of our vision to provide ‘best in class’ advice and support on employee health and wellbeing. From the very beginning, when the company was established in 1992, we recognised that it is only as an independent advisor that we can act in our customers best interest and provide them with the information they need to make informed decisions,” said Paul Roberts, senior consultant at IHC.
IHC is proud to have been independent for over 25 years and as a result has grown to become the largest independent specialist advisor in health and wellbeing.