The government has created a steering group to develop more straightforward savings and protection products following a consultation on simple financial products. Mark Hoban, Financial Secretary to the Treasury says the range of products, which could also include investment products, will “help consumers navigate the financial services market”. The group will be chaired by former chief risk officer at Lloyds Banking, Group Carol Sergeant and will include representatives from government, industry, and trade and consumer bodies.

It will consider how to bring simple products to market, including how simple products are structured and marketed to ensure that...Read more here--> Steering group to aid consumers