15 February 2010

New cover for supplier failure enters market

Rock Insurance has boosted its supplier failure cover to offer added protection to travel agents and tour operators selling dynamically packaged holidays.

Benefits of the new cover  include the fact that it now covers ATOL non-payment, credit card charge backs and ATOL repatriation. Also it can be adapted to offer complete cover of all suppliers, cover for air travel only or cover for all none air travel suppliers.

The policy has no excess and as the cover is for the end supplier’s business it only attracts a 5% insurance premium tax as opposed to 17.5% for selling insurance products.

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