Financial Failure Insurance

Financial failure insurance for tour operators, travel agents and accommodation villa providers, with specialist solutions to suit you, including the ability to spread cost over monthly payments.

About Financial Failure Insurance

Certificate

Cover which meets The Package Travel Regulations

Easy-to-manage financial failure insurance scheme that meets The Package Travel Regulations

Care

ABTA-approved bonding alternative

Scheme fully approved by ABTA as an alternative to bonding

Chat

Dedicated financial failure claims service

Experts claim handlers to give you peace of mind

Direct Debit

Pay for your financial failure insurance by Direct Debit

You can split your payment into instalments

Features of Financial Failure Insurance

Standard cover

Financial failure insurance for tour operators

As one of the market leaders in financial failure insurance we can help you protect your legal financial obligations to your customers. The 1992 EC Package Travel Regulations make it illegal to take any consumer money for any package holiday without having the appropriate level of protection in place.

Easy-to-manage financial failure insurance scheme

Our easy-to-operate, pay-as-you-go financial failure insurance scheme, backed by an A+ rated insurer, is available to all tour operators and accommodation providers (subject to application). Travel Regulation Insolvency Protection (TRIP) meets all the requirements of the EU Package Travel Directive.

Travel Regulation Insolvency Protection

Our in-house financial failure insurance team have over 30 years' experience in the sector and can advise the right Travel Regulation Insolvency Protection cover for you. Our financial failure insurance is fully acceptable to a number of well-known merchant services suppliers without the need of further security or cash deposits.

A recommended ABTA Partner+

We are an ABTA Partner+ and are endorsed by ABTA for our products and services. The policy has been fully approved by ABTA’s legal team and is acceptable in the membership process.

These are the FAQs

Question

Why do I need financial failure insurance?

Answer

Any tour operator which offer a package holiday for sale in the EU (irrespective of destination) must comply with the Package Travel Regulations which came into effect on 1 January 1993. One of the most onerous responsibilities is the need for the tour operator to provide security for passengers’ holiday payments prior to and up to the completion of the package holiday, in the event of the financial failure of the organiser.

Our Travel Regulation Insolvency Protection (TRIP) financial failure product, unlike a trust account, will allow an operator to free up cash flow. We will also provide a logo and wording for your literature to confirm you have appropriate cover in place, putting your clients mind at ease that they are protected at the time they pay for their holiday deposit.

Question

What is the Travel Regulation Insolvency Protection scheme?

Answer

Our specially designed Travel Regulation Insolvency Protection scheme is available to all tour operators, travel agents, holiday operators and accommodation/villa providers (subject to status upon application). We have in-house experts that specialise in travel protection insurance, passenger protection insurance and financial failure insurance who can advise the right Travel Regulation Insolvency Protection cover for you. Speak to one of our financial failure insurance advisers to find out more about the protection we offer, or see further details.

 

Question

Why should I get my tour operators insurance from Towergate?

Answer

As one of the market leaders in financial failure insurance we can help you protect your legal financial obligations to your customers. We will provide marketing collateral showcasing your partnership with us, helping your customers have more confidence in your brand.

We are also in a Government steering group for tour operators insurance and are therefore aware of the latest regulations and public information so we can help tailor your policies to meet your requirements.

Question

Do you offer travel bonds?

Answer

Yes, we offer travel bonds to help you flexibly and safely make the most of your money. Our years of experience have given us detailed knowledge of travel bonds and related insurance risks, allowing you to focus on your clients. Speak to one of our specialist insurance advisers to find out more.

Question

Can I pay in instalments?

Answer

To help you spread the cost of your premiums, we offer a quick and easy direct debit scheme for payment spread over ten months. Please visit our dedicated Direct Debit page to find out more.

Question

Where can I find more information about monthly Direct Debit?

Answer

If you would like to know more about our monthly payment option, please visit our dedicated Direct Debit page.

How do I make a claim?

When you need to make a claim, we’ll guide you through the process and get your claim settled as quickly as possible.

1.

Find your insurance documents

and make sure you have all your information at hand, including your policy number

2.

Call the claims team

on 01932 334 140 and explain exactly what happened

3.

Provide photos if requested

to help us understand what happened as quickly as we can

Relaxed Person Making Claim