Smith hopes for cup tonic as Wolves face off against the Giants


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Warrington Wolves hope to put their poor Super League form behind them as they head into their first Challenge Cup final in 19 years against Huddersfield Giants at Wembley today. Despite recording only one win from their last six matches, and putting their play-off place in jeopardy, the Wolves coach Tony Smith is confident his team will rise to the prestigious occasion. "Our form hasn't been great in the last couple of weeks. We haven't been pleased with what we've been producing, but we have had some disruption with injuries. We've had to put out players who are not 100 per cent," he said.

"Sometimes when you get form like we've got, it galvanises you as a team. We've been able to do that at times this year and turn things around quickly." As Warrington's injury troubles continue, hooker Jon Clarke was the latest Wolves player consigned to the stands after failing to recover from an ankle knock. Clarke will be replaced by Mickey Higham, despite the former Wigan hooker being sidelined since May with a ruptured bicep.

While a tight match is expected at Wembley today, Huddersfield coach Nathan Brown is backing his side's superior fitness to give them the edge over their Warrington rivals. "We anticipate every game to be close," said Brown ahead of the Giants' second final in four years. "We are going out there to put ourselves in a position to stay in the game and back our fitness to get ourselves a victory. "We know they're a very talented side and we're going to have to play well. They're pretty strong all across the park. "

With forward Andy Raleigh left out of Huddersfield's 19-man squad, Brown will replace injured second rower Danny Kirmond with Martin Aspinwall. The 27-year-old, who was a try scorer in the Giants' 42-12 defeat by Saints in the 2006 final at Twickenham, got the nod over Simon Finnigan. * With agencies Huddersfield v Warrington, KO 5.30pm, Showsports 3

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Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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