GISC has called on the government to bring travel insurance and extended warranties under the FSA umbrella, if consumer complaints do not decrease dramatically.
The statement came in response to a government consultation paper on the reform of the extended warranty market.
GISC chief executive Chris Woodburn said that customers should receive the same level of protection wherever they bought policies.
He said extended warranties on domestic electrical goods and travel insurance sold as part of holiday packages were being reviewed in two years' time. "At that point, if consumer complaints have not decreased substantially GISC would hope that the DTI and HM Treasury will consider bringing these areas into the scope of the Financial Services and Markets Act."