Aviva policyholder advocate urged to resign

The Aviva reattribution action group has demanded the resignation of policyholder advocate Clare Spottiswoode, after she allowed Aviva to blacken out potentially crucial data in her latest report published today (22 June.)

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The 515 page document was today made available to the one million policyholders tied up in the with-profits funds of the former Norwich Union, namely the CGNU Life and CULAC funds.

The report written by Spottiswoode and her team of advisers, is the product of long-term negotiations on behalf of policyholders who are in line to gain a payment between £200 and £1,150 from the inherited estates. (See related article.)

But policyholders are up in arms that Aviva has been allowed to blank out crucial data, an example of which can be found on page 327 of the report.

In the report, Aviva justifies this by claiming certain figures are "commercially sensitive".

But one policyholder, Bob Taylor, said he is "gobsmacked" by the reaction, which has left him with "no faith in the figures".

The publication of the 515 page report leaves investors attending the London road show, which is designed to further inform policyholders on how to vote for the reattribution, with just one day to digest the information. (See related article.)

In light of the revelations, co-founder of the Norwich Union policyholder reattribution action group, John Pilkington has written a letter to the policyholder advocate Clare Spottiswoode demanding her immediate resignation.

The letter reads: "I wonder what has to happen in this reattribution fiasco for you to consider resignation from your position?

"I can fully appreciate that you may have thought that it has been essential for you to carry on as policyholder advocate for long enough for you to publish your report.

"However, surely, there must come a time when you consider that enough is enough, and that the reattribution process is fatally flawed or is being manipulated by Aviva and/or the FSA?

"Would it not be a good time for you to resign, now that your report has been published but modified by Aviva?"

Pilkington has requested that Spottiswoode publicly resign at the first road show to be held in London tomorrow.

He added: "You will do policyholders one large favour by doing this."

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