Insurers can top-up the state

Andrew Moss, the chief executive of Aviva will tell the Davos summit this week that insurers should negotiate with European governments to add to state welfare provision and long-term healthcare, the Times reports.

Moss will support a Conservative proposal for insurers to offer low-cost savings products that would help to pay for healthcare provision for the elderly. The Tories have outlined plans for an insurance-backed scheme that would cost about £8,000 per person.