FCA delays review of travel market signposting

The Financial Conduct Authority will delay its review of new regulations it introduced in April 2021 to help consumers with more serious pre-existing medical conditions better navigate the travel insurance market.

In a statement, the regulator said: “We have taken the decision to delay the post implementation review of our travel signposting rules by a year and intend to conduct the review in the period April to October 2023.

“We consider the impact of Covid-19 on the travel insurance market, both in terms of level of market activity and the challenges separating the impact of our remedy from the impact of Covid-19, would undermine our ability to draw firm conclusions if we conducted the review this year. We expect that there will be better evidence available in 2023 to conduct the review.”

The new rules aim to ensure firms that sell travel insurance better support customers with serious pre-existing medical conditions and signpost them to specialist providers where appropriate.

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