Travel insurance: New regulations 'could lead to fewer agents'

Friday, 02 January 2009

The introduction of new regulations has caused concern that more people next year will go away without travel insurance.

Recent rule changes might be complex and costly, the Travel Association (ABTA) explained and this could lead to less tour operators offering customers insurance to go with their trip.

This is despite the fact that under the ABTA's code of conduct, all holiday companies must tell their customers how important it is.

If people travel without adequate cover, then they are not protected if their holiday is cancelled, have an accident of lose their baggage.

Holidaymakers should purchase insurance "as soon after you book your holiday as possible" advised Mike Monk, head of financial services for ABTA.

It should be bought elsewhere if the travel company cannot provide it, he added.

ABTA estimated that over three million Brits will be heading abroad over Christmas and new year.

It said this period is often a popular time to get away as people try and escape the stress at work and want to spend time with family and friends.

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