Kent-based managing general agent Travel Insurance Facilities Plc, which trades as tifgroup, has offered assurances that its existing customers in the UK will not be impacted by the current halt in its onboarding of new policyholders.
Referring to German company Union Reiseversicherung (URV), tifgroup explained in an emailed statement to Insurance Business: “The insurer, URV, for which tifgroup administers claims handling and other related services, has temporarily paused new sales of insurance policies to consumers.
“URV is currently in the process of evaluating options for the future, including re-entering the UK market following completion of regulatory framework changes, as well as the possibility of permanently leaving the UK market.”
The MGA stressed that all policies already purchased, including those with White Horse Insurance Ireland DAC, will have their policy terms and conditions met and that they will be serviced and administered as usual.
It was previously reported by The Times that tifgroup had turned to White Horse following URV’s move. However, it was also noted that this partnership had supposedly fallen through.
“It has been agreed with Travel Insurance Facilities Plc that, with effect from 00.01 on July 13, 2021, TIF will not be authorised to underwrite policies on behalf of White Horse Insurance DAC,” reads a notification on the Irish insurer’s website.
No further details or explanation were provided. Neither did tifgroup comment on the present status of its relationship with White Horse.
The travel insurance provider went on to assert, though: “It is clear to tifgroup that there is a real need in the UK market for travel insurance policies and related services, particularly aimed at helping consumers with medical conditions find suitable insurance at affordable prices, allowing them to travel.
“tifgroup hopes to be able to continue to offer travel insurance, as it has done in the past and particularly to these consumers, as soon as possible.”
