Cost of FSA travel agent rules will fall to brokers

The number of travel firms that have applied for authorization to sell insurance under the Financial Services Authority (FSA) is far fewer than expected, raising concerns that the cost of introducing the new regime will fall to other insurance intermediaries. According to trade magazine Travel Weekly, only four travel firms have applied to the FSA for the authority to continuing selling travel insurance policies after the new rules take effect from 1 January 2009.