ISI worms out of churning policy review

The Replacement Policy Advice (RPA) is designed to stop advisers and life companies churning policies.

An ISI spokesman said that while the review promised by new chief executive Peter Neilson was still ongoing - and talks with members had taken place - "I think with the regulation of the industry the board are coming to the realisation that it's not something we are  really capable of regulating."

"It's a tricky one, we're still trying to work through what we can do," he said.

Neilson announced he had been asked to review the RPA at the Life Brokers Association conference in May.