It's a pleasant change to think positively about the direction of the protection market and to identify a significant opportunity for advisers.
Having been in freefall for the previous four years, the fifth incarnation of the FSA's protection market survey, which covers 2009/10, makes far more encouraging reading for those operating in the sector.
While the results should be taken cautiously, they show that sales of pure protection products are starting to level-off from their long-term nose dive.
Indeed, critical illness (both standalone and as a rider) has led the way in the recovery and it is only income protection that has let the side down.
More importantly, for those advisers to whom protection is a core part of their business, it seems IFAs have managed to maintain their share of the market.
As the figure shows, of all categories delineated by the FSA, personal investment advisers (IFAs) still lead market share in all bar standalone critical illness, by far the smallest of the three markets by volume of sales.
With suggestions already of some advisers leaving the sector pre-RDR, and others who dipped in to protection during the recession likely to return to their respective specialties as the economy continues to grow, this leaves a significant opportunity for the protection focused intermediaries remaining.
And an imminent growth in protection sales should not be a surprise.
As the country continues its exit from recession, finances should become less strained while the motivation of people to protect themselves will still be fresh in the mind.
Couple this with the coalition government's axe very publicly hanging over the welfare state for its largest cut, and a subsequent greater demand for protection products should be a natural occurrence.
So if the market does fully complete its recovery and start growing again, it is important that the smaller IFA "workforce" left to service it is ready to ensure the public are receiving the advice they need.
