Northampton, November 2008
Earlier this year the Financial Services Authority (FSA) unveiled new regulations that will bring travel agents under FSA scrutiny by removing their current exempt status. As from January 2009 they will need to gain authorisation in line with other businesses selling financial products.

As an established insurer with brands spanning the whole market including specialist over 50s products Staysure.co.uk understands that the changes can be beneficial to all parties, safeguarding the public and ensuring industry standards. As an ABTA partner, Staysure is ideally placed to forge partnerships with travel agents who want to offer insurance products but aren’t in a position to apply for FSA approval.

Staysure are one of the few UK insurers to offer a product covering 250 pre-existing medical conditions as standard and also full online screening. Annual policies are available for all destinations up to age 80 and single trip policies go even higher to age 85. Built in flexibility allows clients to pick from a range of upgrades, including golf, ski, wedding, and high-risk items, all at reasonable prices.

After an initial knee-jerk reaction these measures could be good news for travel agents and insurers alike. Most agents agree that insurance sold at the same time as travel represents a positive customer experience, but with the added protection of FSA regulation customers will have greater confidence in a market that is run competently, efficiently and fairly.

After the demise of XL travelers are wary of the discount online ticket suppliers and there seems to be the beginnings of a swing back towards high street travel agents who can provide ABTA protection. Staysure products are currently available online, by telephone and soon they will be available on the high street from trusted travel partners, a win-win situation for travel agents, Staysure and customers!

FSA approval means Staysure operate under a strict code of conduct, hold professional indemnity cover and have sufficient capital. Find out about Staysure low cost over 50s specialist insurance products at www.staysure.co.uk.