TRAVEL agents fear they will be stung by huge licence fees to sell insurance by the newly established General Insurance Standards Council.
Agents are expected to join the self-regulatory body which is being set up to prevent the mis-selling of insurance. The fees are being announced in Glasgow today.
Midconsort chief executive Sue Foxall said:”Agents have enough to pay to belong to their professional body. It can’t be right to have to pay more.”
Advantage Travel Centres managing director Ron Muir added: “The fee is the key issue. We do not know how much it will be yet, but margins in the travel business are hardly wonderful.” ABTA head of legal services Riccardo Nardi has written to the GISC to say it wants to act as an agent for the GISC on behalf of its members.
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