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(From Post Magazine)
'Cowboy' travel insurance providers are being driven out of the market following Financial Services Authority regulation, it was claimed this week.
The assertion came after the Financial Ombudsman Service reported complaints against travel insurance suppliers were on the up but that the rise was lower than last year's increase.
There were 1525 complaints in the year up to 31 March 2005, up 5% from the previous year; however, there was a 33% jump in cases from 2003 to 2004.
The FOS warned that while the figures are improving, the fact there is a rise means insurers and brokers still need to improve their offering.
Perry Wilson, director of intermediary Insure and Go, said that now the market is rid of the ...