Following changes in the Financial Services Authority rules, travel insurance firms are being offered a share of the £42b general insurance market say Acumus Insurance Solutions .
By becoming an appointed representative, travel companies will be able to offer a much wider range of insurance products along with securing and growing current travel insurance income.
Managing director of Acumus Insurance Solutions, John Bibby, says: “Only a minority of the more than six thousand UK travel agencies have grasped the implications that authorisation allows a company to sell a range of general insurance products.” He added that while supermarket chains are white-labelling financial and insurance products to obtain extra income, travel organisations can capitalise on this significant trading opportunity by tapping into a wider range of insurance products.
Mr Bibby named Thomas Cook as an example of a regulated company which has used the power of its strong and trusted brand across the insurance marketplace.