There will be an independent review taking place regarding mis-selling claims from Equitable Life ex-policyholders. The claims have come about by non guaranteed annuity rate policyholders who moved away from Equitable Life before the compromise deal.
These mis-selling claims stem from policyholders saying that when they were sold policies, they were not told about the liabilities Equitable had from guaranteed annuity rate policy holders.
Charles Thomson, Chief Executive of Equitable said "Whilst there may be former policyholders with justifiable guaranteed annuity rate mis-selling claims that warrant compensation, we believe that the number and scale of successful claims should not be extensive . A large number of criteria have to be met before any claim is valid".