| Journal: TWUK | Section: |
| Title: | Issue Date: 19/11/01 |
| Author: | Page Number: 2 |
| Copyright: Other |
Policy move:the GISC is continuing its fight to force insurance sellers, including travel agents, to join its ranks
THEGENERALInsurance Standards Council is to apply to the Office of Fair Trading for an exemption from competition laws following ABTA’s recent Competition Commission appeal victory.
The Competition Commission overruled the OFTby declaring a clause forcing insurance sellers – including travel agents – to join GISC as ‘anti-competitive’ (Travel Weekly September 24), but GISC will counter that ruling by bringing its fight to regulate the insurance industry back to the OFT.
ABTAhead of legal services Riccardo Nardi said the OFTwould now be forced tore-examine GISC’s regulations to decide whether the body has a case for exemption.
“I wouldn’t be surprised if an exemption was granted but I’m confident that the OFTdirector-general will decide that there are some organisations – ABTA among them – which are not suitable to have GISC regulations imposed on them,” he said. “If the OFTdoes decide to grant the GISC’s exemption and imposes that on ABTA we will be taking our case back to the Competition Commission.”