Columbus Direct is swimming against the tide on statutory regulation, and is willing to pay £250 to find out if it has taken the right direction.

While most travel companies and their trade bodies are lobbying to be excluded from upcoming FSA mediation regulation, Columbus says the FSA should regulate all companies selling travel insurance.

It has emailed its policyholders to ask their opinion on the issue, before responding to the Treasury consultation paper.

As an incentive, a randomly chosen respondent will win £250 and the results of the survey published.