Equitable Life (Payments) Bill

I was trying to make two points. First, those policyholders were excluded from the calculation of relative loss as a consequence of the ombudsman's findings and her view on when maladministration had taken place. According to the example that I have given, they would not have suffered loss in any event. I am merely saying that, in my opinion, there is a strong case in principle for the exclusion of those policyholders, and in practical terms they have not suffered loss.