Connected Travel Insurance to be Regulated by the FSA
The Financial Services Authority (FSA) has released a paper detailing its plans to regulate Connected Travel Insurance. Connected travel insurance is travel insurance that is sold alongside a holiday.
Insurance policies that are brought directly from insurance firms and brokers are already regulated by the FSA, and after years of campaigning from the consumer group Which?, it has now been extended to connected travel insurance policies.
The regulation with be based on the firms ability to provide the insurance, whether they are adequately staffed and competent enough and will look to ensure customers are made clear of their options in order for them to make an informed choice, being sold travel insurance policies that fit their needs.
The regulation for connected travel insurance policies will come into place on the 1st January 2009.
Written by MrCrip on December 21st, 2007 with
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