ALL ABTA MEMBERS OFFERED IAR STATUS FOR TRAVEL INSURANCE
Date published: 03 September 2008ABTA Members will be granted “Introducer Appointed Representative” (IAR) status for the ABTASure range of travel insurance policies, ABTA has announced. All ABTA Members will have access to an ABTASure IAR facility provided by Citybond Suretravel, subject to a simple registration process.
The guaranteed IAR status granted to all ABTA Members will allow them to continue earning commission from travel insurance after the 1 January 2009. On this date, new FSA regulations will come into effect controlling how travel insurance can be sold by travel organisers. All travel companies wishing to continue to make travel insurance available will need to be either FSA-regulated themselves, or become an “Introducer Appointed Representative” or “Appointed Representative” of a FSA-regulated company.
Mike Monk, ABTA Head of Finance, said: “It is tremendously important that customers do not travel without insurance and our members can and do play a very important role in this. I would urge them to obtain IAR status with ABTASure, thereby ensuring their customers are adequately covered and protecting their insurance income.”
For further details, or to register their IAR status, ABTA Members should contact ABTASure (info@abtasure.co.uk) on 0845 618 0380. Alternatively ABTA Members can apply online by completing the agent application form on www.abtasure.co.uk.
All Members of the travel association also have access to a free FSA Compliance Helpline, providing specialist guidance and advice on how the new regulations will impact on their business. The helpline is available on 0870 224 7171, Monday to Friday, during normal business hours.
For further information
Sean Tipton, Communications Officer, tel: 020 7307 1902/1900Frances Tuke, Public Relations Manager, tel: 020 7307 1903/1900
Casia Zajac, Head of Communications, tel: 020 7307 1987/1900
Out of Hours: Contact the Duty Press Officer via pager: 07659 190987
E-mail: press@abta.co.uk
Web: www.abta.com
Notes to editors
About ABTA
ABTA was founded in 1950 and currently has over 1,500 Members with 6,000 outlets. Members include travel agents, tour operators and support services right across the spectrum from small family-owned businesses to the largest tour operators. ABTA is the largest travel association in the UK and its members provide 90% of the foreign package holidays in the UK as well as selling millions of independent travel arrangements.
About ABTASure
ABTASure is a trademark of ABTASure Ltd, a wholly-owned subsidiary ABTA Ltd. The ABTASure travel insurance scheme is arranged and managed by Citybond Suretravel, a trading division of Citybond Holdings Plc, with the express permission of ABTA and solely for the benefit of ABTA members. Citybond Holdings Plc is authorised and regulated by the Financial Services Authority under FSA Registration number 312208.
About FSA Compliance Helpline
This free helpline is operated by Compliancy Services Ltd, an ABTA Travel Industry Partner and specialist in FSA regulation issues. See www.travelinsuranceregulation.co.uk.
