Thomas Cook has launched a travel insurance solution, firing a warning to other providers that it will no longer allow them to take its customers easily.
It has also revealed plans to extend the Thomas Cook brand into other insurance markets.
Expansion into other sectors and the desire to sell policies separately to holidays drove Cook’s decision to pull out of ABTA’s self-regulation scheme, and instead be fully regulated by the Financial Services Authority.
Head of financial services Mark Nancarrow says: “What right does the Post Office have to sell travel insurance? We have launched a solution that’s cheaper and more relevant than theirs. We are now able to deliver policies tailor-made for customers’ needs. We are about finding the right policy for the right person”
Travel insurance: News update: March 2007