As a Travel Agent, Tour Operator, or related leisure industry business, you are more than likely aware of the coming changes to the way that you can offer Travel Insurance to your customers.
From January 1st 2009 the Financial Services Authority will require any business wishing to sell Travel Insurance directly to thier customers, to have made application to them and be authorised, or consider the alternatives listed below.
- Become an appointed representative of an Authorised Firm (A 'principal');
- Become an introducer appointed representative of a principal.
- Become an unregulated introducer.
From the options above, unless your business has made the decision to be authorised, the simplest option is to become an unregulated introducer.
Under the Sun Travel Insurance Facility for the unregulated introducer.
Under The Sun have an easy to set up scheme for the unregulated introducer that will allow you to introduce Travel Insurance to your customers, while your business still maintains a generous commission from the introduction.
Under the Sun also offers a complete service for Authorised firms and brokers.
PLEASE CALL UNDER THE SUN ON 01322 449544 OR 01322 449533
We will explain the options available to you and have your Travel Insurance facility up and running very quickly.
Complete information on all of these options above can be found on the FSA web site at; http://www.fsa.gov.uk/pubs/cp/cp07_22.pdf.
Page 15 of this document lists the above mentioned options, with the further paragraphs explaining the meaning of each option.
For a quick guide page 50 of this document gives different scenario information on how you can operate under the above options.
This document makes it clear on how your business can offer Travel Insurance given the options that are available.
If you require Financial Services Authorisation for your business, please make sure you make application in a reasonable time if you wish to be Authorised by 1st January 2009.
You can find complete information on regulation of Travel and related industries at http://www.fsa.gov.uk/Pages/Doing/small_firms/travel/index.shtml |
|
