Advantage offers financial protection to non members
Advantage will offer supplier failure insurance to non Advantage members applying for ATOL Flight Plus licences from 1 March.
Advantage Financial Services has been providing Supplier Failure Cover (SFC) to its own members who dynamically package for some time but this is the first time it’s been on offer to non members.
Rolling out the protection to non Advantage members means that those required to apply for a CAA licence come the 30 April deadline will be able to protect themselves from their own or a supplier’s failure.
David Sharp, director of financial services at Advantage said: "When the new legislation comes into play there will be a large number of new ATOL Flight Plus licencees who will be acting as principal agents for the first time.
"With it they will assume the responsibility and liability for their customers, not only for their own possible failure but also for the failure of their suppliers.
"Our supplier failure insurance protects them ‘the company’ as principle agents against any losses incurred by this third party failure by providing funds to refund or replace the failed travel element."
Diane
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