Policy holders in Burton and Uttoxeter who lost money in the collapse of Equitable Life will receive compensation by the new Government.
Burton and Uttoxeter MP, Andrew Griffiths, has welcomed the new Government’s action for compensation for Equitable Life policy holders that suffered because of the failure to properly regulate the company.
The Government has confirmed it’s commitment to making fair and transparent payments to Equitable Life policy holders for their relative loss as a result of regulatory failure. The Government is introducing a Bill to enable payments to be made to Equitable Life policy holders as soon as possible.
“People in Burton and Uttoxeter thought they were properly protected when they invested in Equitable Life. They have suffered the stress and anxiety of waiting to find out if they will be properly compensated for too long. Some investors have even died waiting for compensation despite the ombudsman confirming they deserved it. I am delighted the new Government has decided to do the right thing and put an end to this injustice.”