The Financial Conduct Authority (FCA) has provided an update on its signposting requirement for travel insurance providers, following the launch of the Money and Pensions Service’s (MaPS) travel insurance directory.
“This directory meets our criteria for a medical cover firm directory,” said the FCA. “All firms that offer retail travel insurance must include details of the MaPS directory on their websites within 30 days from when the directory [went] live on October 08, 2020.
“This is to ensure that consumers will have access to the directory, ahead of the introduction of the signposting requirement in April 2021. In the future, should other directories meet our criteria (as confirmed by us), firms will be able to list details of any of these directories.”
As previously announced, the signposting initiative is part of the changes aimed at helping those with more serious pre-existing medical conditions (PEMCs) better navigate the travel insurance market.
Starting April 26 next year, travel insurance providers should signpost certain customers with PEMCs to a medical cover firm directory as set out in the FCA’s Policy Statement PS20/3.
Meanwhile, consumer enquiries about the MaPS directory can be made to the Money Advice Service’s customer contact centre at 0800 138 7777.
