Travel Bonds and Financial Failure Insurance for Brokers

Overview

Towergate Underwriting Travel Solutions are one of the market leaders in insurance products for the travel industry.

Financial Failure Insurance

The Package Travel Regulations came into effect in the UK on 1st January 1993 and the legislation imposes certain responsibilities on all operators of Inclusive Package Holidays.

One of the most onerous responsibilities is the need to provide security for passengers' holiday payments prior to and up to the completion of the Package Holiday in the event of financial failure of the Organiser.

Key Features of Financial Failure Insurance

• Low cost cover from 99p per passenger
• Logo recognition promoting customer confidence
• No large "up front" payments
• Trouble free certificates
• No monthly declarations
• Decision/acceptance within 48 hours

Travel Bonds

Tying capital up in bank bonds can be prohibitive to travel company's growth but bonding by insurance can be an easier way of meeting regulatory requirements and offers flexibility including mid-term adjustments.

Towergate Underwriting Travel Solutions can quote for most types of bonds including:

• ABTA
• AITO
• ATOL
• BCH
• CPT
• IATA

Key Features of Travel Bonds

• Access to the most competitive and experienced markets in the UK
• A great understanding of the industry
• One of the most professional teams in the industry
• Superior product knowledge
• Policies to fit businesses individual requirements