Industry champions publish report on re-uniting customers with lost money

Published: 04 Apr 2019

Since 2011 the Dormant Assets Scheme has distributed £600 million from unused bank and building society accounts to good causes. This money benefits the most vulnerable people in society. Aviva’s Kirsty Cooper is the industry champion for the insurance and pensions sector.

Commenting on the launch of the Insurance Champions’ report on an expanded Dormant Asset Scheme, Kirsty Cooper said:

The recommendations in this report aim to protect customers while using dormant assets for good causes. The key principles in an expanded scheme are that  providers must prioritise reuniting customers with their money and that owners must be able to reclaim their assets in perpetuity. These principles are vital to maintaining customer trust.

I am proud to have led the insurance and pensions part of this work and I hope that providers, regulators and other stakeholders will engage with the recommendations. An expanded dormant assets scheme should be a win-win for customers and society as a whole.

Image of Kirsty Cooper, Group General Counsel and Company Secretary
Kirsty Cooper, Group General Counsel and Company Secretary Aviva Group Executive Committee Member responsible for Corporate Responsibility and Sustainability

-ENDS-

1 The Dormant Assets Scheme: A Blueprint For Expansion, p. 1  https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/
file/792528/Industry_Champions_Report_on_Dormant_Assets_2019_full_report__2_.pdf

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Fiona Murphy

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