New cover for supplier failure enters market
Saturday, 15 Feb, 2010
0
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.
There is also no requirement to be FSA regulated to use this product and cover can be arranged for one-off charter programs.
Managing director Antony Martin said: “Commercial Supplier Failure Cover extends the protection offered by the existing consumer product to the end supplier of the holiday. In the event of a failure, agents and operators will be protected from incurring losses such as the all too common credit card charge backs.”
Phil Davies
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...
Airbnb eyes a loyalty program but details remain under wraps
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026