Get a grip
At the start of next year, the Financial Services Authority will be given the authority to regulate the sale of travel insurance by travel agents and tour operators. While this has the potential to introduce a new revenue stream for brokers, Martin Friel explains that firms taking up the challenge will need to offer a guiding hand to those involved
The Financial Services Authority (FSA) may soon find itself in uncharted waters as the drawn-out process of regulating combined travel insurance finally comes to fruition in January next year. The much-maligned regulator could soon be in the position of offering insurance brokers a new business opportunity, as they become one of the few conduits through which travel agents and tour operators will be able sell insurance.
In June 2007, Ed Balls, then economic secretary to the Treasury, argued that
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