Sainsbury's Bank welcomes FSA regulation on travel insurance
www.moneynews.co.uk > General finance > Sainsbury's Bank welcomes FSA regulation on travel insurance
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Sainsbury's Bank welcomes FSA regulation on travel insurance
Fri 2nd Jan 2009
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The new law means that travel agents who sell cover will now come under the auspices of the FSA for the insurance side of their business.
Sainsbury's claims that as many as 400,000 UK customers have been mislead on travel insurance sales over the past year by "unscrupulous" travel agents.
Sam Marrs, Sainsbury's travel insurance manager, said: "Our research shows that up to as many as 8.1 million people could have bought insurance from travel agents over the past 12 months and the new regulation will provide consumers with valuable much needed protection."
Recently the FSA introduced stricter controls on the sale of payments protection insurance to prevent credit card and loans companies from misleading customers by exaggerating its importance.
Click here for more insurance news
Related News : General finance |
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Related News : Insurance |
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