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Bonding & Insurance
Whether you have or have applied for an ATOL, ABTA membership or IATA Accreditation, the chances are, you will be required to put in place, specific bonds and/or insurances.
We have a number of contacts in the travel industry who can help you place these bonds and insurances.
Bonds
These include:
ATOL Bonds - despite the introduction of the APC, ATOL still require a bond for the first 4 years or after a change of ownership. A market still exists for this type of bonding and we can introduce you to a number of different brokers that can assist.
ABTA Bonds - are required throughtout the duration of membership. A stronger market exists for this type of bond.
IATA Bonds - are required for newer companies and companies that have not met their financial criteria. These can also be secured by insurance.
Airline Bonds - some airlines insist on a bond direct from the travel firm. Some airlines will only accept bank bonds but some will accept bonds from insurers. Sample wording is available from insurers.
Accommodation/supplier Bonds - in order to give them additional protection, some suppliers require you to place a bond. Again, some of these suppliers will accept insurance bonds.
Insurances
To hep protect your business, there are a number of insurances you can take out. These insurances include:
Product Liability & Professional Indemnity Insurance
Employers Liability
Scheduled Airline Failure
Suppliers failure
Package Travel Regulations
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