Following on from Elizabeth Adams-Reid's letter (Letters, 22 February), I whole heartedly endorse the IIB stance on regulation of travel agents.

It would be detrimental to have a full regulation approach, but a 'cut down' version is plainly required. We wholesale substantial amounts of travel insurance via brokers and travel agents as well as selling direct to the public and I believe we are able to speak in an informed way about what is going on in the market.

It is typical that some brokers will not be prepared to put their names to adverse commentary. Dare I say they have a vested interest in disagreeing, rather than taking a logical approach, but one also wonders how much is press speak.

From our standpoint we believe in regulation when selling travel insurance, but not to the point where the regulatory burden stifles genuine and honest commercial activity. We also believe that insurers and wholesalers have a major part to play in this as there are many who fuel the fire of criticism by providing net rated products.

Travel agents frequently mark up the prices by ludicrous amounts as a way of making a fast buck.

It is our view that if controls over the selling price are in place and that sensible levels of premium are charged, the return becomes less attractive which, in turn, will stop some of the more unscrupulous operators adopting a hard and often inappropriate sell.

This might seem a somewhat perverse thought process, but I genuinely believe this would have a major impact. Here, one can draw parallels between the PPI misselling debate and the travel business. A lot of PPI is sold by regulated companies, but that has not stopped them misselling.

In my view it's the greed factor that drives the hard and inappropriate sale. Control this and you have an almost instant fix to a significant part of the problem.

Of course, you also need to examine the suitabilty of cover and make sure this is controlled properly. Also make sure customers buy products suitable to their needs and actually know what they are buying.

But take away the greed aspect of the vendors and you will control their desire to hard sell.

I have held these views for many years and have voiced them previously (particularly on the PPI debate, a product which we also wholesale) but wonder of wonders, certain people in the industry seek to quash any such comments as it doesn't fit comfortably with them.

Adrian C Gyde, Managing director, Bennett Gould and Partners