From January 2009, sales of travel insurance by travel agents, tour operators and other sectors of the travel industry will be regulated by the Financial Services Authority (FSA).
Sales of travel insurance through other outlets have been regulated by the FSA for some time, but the travel industry has had an exemption when insurance is sold alongside a travel or holiday booking.
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AIG UK is advising the travel industry to act now to secure their future sales of travel insurance rather than wait for the January deadline. Companies must discuss with their travel insurance partner how they can comply with FSA regulation, and put the correct training and procedures in place well before the deadline.
