THE General Insurance Standards Council is to draw up separate rules for the travel industry, according to chief executive Chris Woodburn.
While he refused to go into detail, Woodburn admitted that it has proved impossible to regulate all sectors of the insurance industry in the same way.
“We are looking at something appropriate to the travel industry,” he said. “Agents will find that training and competency, and solvency and segregation requirements are not as alarming as first thought.”
There will be a sub-section in the rules for travel agents.
This will give them direction in specific areas such as medical exclusions and telesales.
Woodburn is confident that once agents see the rule book, they will see GISC in a different light and pay to join, despite membership being voluntary for at least 12 months.
The GISC has to get Competition Commission approval to be mandatory to avoid falling foul of a new Competition Act that came into force on March 1 (Travel Weekly February 28).
Woodburn added: “I wish to raise public awareness on the importance of good practice and that will bring pressure on agents to join the regulatory regime.”