Leading travel underwriter Mondial Assistance has called on travel insurers to band together to launch a marketing campaign promoting the regulated status of their products.
The call comes in response to the Treasury ruling that the sale of travel insurance through travel agents would escape regulation.
Mondial national sales manager, corporate and travel, Rob Upton, said he planned to speak to a number of travel underwriters about the possibility of "pooling resources" to launch a marketing campaign. This would highlight the fact that not all travel insurance sales were regulated.
"Travel agents have quite openly sought to remove themselves from regulation. It would be remiss of us as an industry not to make consumers aware of the state of play," he said. "What we should do is promote that fact and use that as a selling point to differentiate from a distribution that isn't going to be regulated."
Under the Treasury ruling, travel agents who sell travel insurance as part of a holiday package will avoid regulation until at least 2007. But travel insurance sold through brokers or directly by insurers will be regulated by the FSA.
