Why do I need financial protection as a travel organiser, tour operator or travel agent?
It is a legal requirement, as set out in the 2018 Package Travel Regulations (PTRs).
If you sell packages, you must provide financial protection in the event of your insolvency. This covers all your customer prepayments and repatriation and claim costs. You can provide this through a Bond, Financial Failure Insurance (FFI) or an approved Trust Account.
See the 2018 Package Travel Regulations for more information.Why would I choose a Travel Bond as a financial protection Solution
They are straightforward, cost effective and not administratively burdensome
Travel Bonds by Insurance also tend to be unsecured and have additional advantages as cash sums and other business assets are not-tied-up as they would be normally to guarantee a bank bond.
Travel bonding is the idea way to meet your regulatory requirements and suitable for all types of travel organisers.Why should I get my travel bonds from t&g?
t&g have been in the travel consumer financial protection market consistently for 40 years and remain committed to this market and will continue to be flexible on the terms we underwrite and provide guarantees and insurance policies to our travel clients. Our approach has not changed, and we continue to look at each risk on a case-by-case basis.
We operate as a Managing General Agent vested with underwriting authority by Hiscox, (A rated) which acts as the primary insurer and we are authorised and regulated by the Financial Conduct Authority, Registration Number 304788.
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