Regulating Connected Travel Insurance
A consultation paper was released by the Financial Services Authority (FSA). The paper contains the plans for regulating Connected Travel Insurance or CTI, meaning travel insurance sold during holiday. Previously the FSA already regulates the travel insurances that are directly buy from the insurance company. Base on the paper, the guidelines is to make sure that the companies who are selling the travel insurance are proper and appropriately resourced including its employees.
Consumers should receive adequate, clear, concise, and consistent information about the travel insurers’ services. Those who are looking for advice should also get quality responses from the insurers so that consumers able to make a choice.