Insurance Post

Families of missing people need help from financial services sector

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Two key All Party Parliamentary Groups are joining forces today to examine the problems surrounding the guardianship of missing people’s property and financial affairs and the role the financial services sector, including insurance companies.
 
A special joint meeting of APPG for Missing and Runaway Children and Adults and the APPG on Insurance & Financial Services takes place this afternoon (Tuesday 28 October) in Committee Room 18, House of Commons, at 4.30pm.
 
There has been growing concern about how the financial affiars of missing people are handled with calls for greater flexiblity and sesnitivity from the financial services sector. At present, when a person goes missing, any legal or financial arrangements in relation to their affairs remain in place just as they did before they disappeared.
 
This can cause problems for family or friends of a missing person who are keen to protect their loved one's property and finances, as banks, insurance companies and other organisations may not be able to discuss the missing person's affairs with anyone other than the missing person, or to accept instructions because contract is with the missing person.
 
As a result of this situation, missing people can return to find their finances in disarray and, in worst cases, they may have lost their home.
 
This meeting will discuss the Government's proposals for introducing new rules on guardianship of a missing person's property and affairs, currently being consulted on by the Ministry of Justice.
 
This will be an opportunity to hear from financial and legal experts on the proposals, including Karen Evans from the Association of British Insurers, and from those who support families of missing people keen to protect their loved one's assets.

Full line-up of speakers:

Emma Cummings, Missing People Family Support Manager
Patricia Barratt, Clifford Chance, and Missing People’s pro bono lawyer
Sarah Young, Ridley and Hall Partner
Karen Evans, Association of British Insurers
Walter McCahon, Policy Advisor, British Bankers' Association

The meeting is open to the public, although accommodation is limited. You should allow plenty of time for queueing and getting to the upper committee room floor.

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