n ABTA GISC objections
ABTA has spelt out its objections to the General Insurance Standards Council, the body being set up to regulate the selling of insurance. The association has questioned the joining fees, mandatory payment of a professional indemnity and the requirement to set up a separate bank account for insurance sales. ABTA head of financial services Mike Monk said:”These regulations protect the insurance companies rather than the consumer.”
n £18m for lastminute
Bass Hotels and Resorts, Starwood Hotels and BAAare among seven international companies which have invested £18m in lastminute.com. Bass said the funding is being used to support development in the UK and internationally, promoting lastminute.com through marketing campaigns and providing a technical and operational infrastructure.
n new ship for crystal
Japanese transport giant NYK is believed to be planning to order a third ship for its luxury cruiseline Crystal Cruises. The new ship is expected to be larger than Crystal’s two existing 950-passenger vessels.
n new travel portal
United Airlines, Delta AirLines, Northwest Airlines and Continental Airlines are joining forces to create an independently owned travel Web site. It’s the first multi-airline travel portal with on-line access to airline, hotel and car rental and is being launched on the Internet this summer. Real-time departure and arrival information will be available. Companies such as ebookers and Expedia UK welcomed the news saying it will draw customers on-line.