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This document contains the following information: Injustice unremedied: the Government鈥檚 response on Equitable Life third report session 2008-09.

On 16 July 2008 the Parliamentary and Health Service Ombudsman presented a report concerning the prudential regulation of the Equitable Life Assurance Society (HC 815, session 2007-08, ISBN 9780102957303). This complex report made ten findings of maladministration and determined that this maladministration had led to injustice. That report also made two recommendations: that the Government should apologise to policyholders for the serial regulatory failure and; that the Government should establish and fund a compensation scheme. Following that, the Public Administration Committee conducted an inquiry into the issues raised by the report and produced a report, 鈥楯ustice delayed鈥� (HC 41-1, II, session 2008-09, ISBNs 9780215525536, 9780215526229). On 15 January 2009 the Government provided their response to the Ombudsman鈥檚 report by way of an oral statement and published a Command paper 鈥楾he prudential regulation of the Equiable Life Assurance Society鈥� (Cm. 7538, ISBN 9780101748124). The Government accepted some, but not all, of the Ombudsman鈥檚 findings and apologised to policyholders. The Government also said that they had decided to reject the central recommendation - that the Government should establish and fund a compensation scheme. This report presents the Ombudsman鈥檚 assessement of the Government鈥檚 response.

This paper was laid before Parliament in response to a legislative requirement or as a Return to an Address and was ordered to be printed by the House of Commons.