PARLIAMENTARY EARLY DAY MOTION
RAISING STANDARDS INITIATIVE AND CO-OPERATIVE INSURANCE SOCIETY (26 November 2001)

That this House welcomes the Raising Standards Initiative, a voluntary scheme launched by the financial services industry with the support of the Association of British Insurers that aims to promote customer understanding and awareness of financial products; notes that companies participating in this initiative will be assessed against minimum standard benchmarks set by an independent body, the Pensions Protection & Investments Accreditation Board; welcomes the fact that fifty financial services providers support the initiative; notes that the Co-operative Insurance Society (CIS), Norwich Union, Scottish Equitable, Scottish Widows and UNUM were awarded the Raising Standards Quality Mark in the first wave of accreditation on 16th October; and commends the CIS which has pledged to go beyond these minimum standards by sharing its experiences with other financial services providers so that more can gain accreditation and for engaging with consumers and other stakeholders to build trust in the financial services industry.

Sponsored by:
Paddy Tipping (Labour)