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.
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
Cover which meets The Package Travel Regulations
Easy-to-manage financial failure insurance scheme that meets The Package Travel Regulations
ABTA-approved bonding alternative
Scheme fully approved by ABTA as an alternative to bonding
Dedicated financial failure claims service
Experts claim handlers to give you peace of mind
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?
Why do I need financial failure insurance?
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?
What is the Travel Regulation Insolvency Protection scheme?
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?
Why should I get my tour operators insurance from Towergate?
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?
Do you offer travel bonds?
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?
Can I pay in instalments?
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?
Where can I find more information about monthly Direct Debit?
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.
Find your insurance documents
and make sure you have all your information at hand, including your policy number
Call the claims team
on 01932 334 140 and explain exactly what happened
Provide photos if requested
to help us understand what happened as quickly as we can
Protect Other Things That Matter To You
Read Financial Failure Insurance Articles
-
Financial Failure and Travel Insolvency Insurance - EU Directive
Discover our new financial failure and travel insolvency insurance scheme in order to meet the requirements of the July 2018 EC Package Travel Directive.
Read MoreJanuary 10, 2018
-
A Guide to Business Insurance
Selecting business insurance can seem like a difficult process. Towergate's guide explains the key steps to take when making this big decision.
Read MoreAugust 20, 2021
-
Business Insurance Buyers Guide
Why do you need insurance for your business? What does a typical business insurance policy include? Read our guide to find out more.
Read MoreAugust 20, 2021
-
Business Insurance Checklist
Get the best business insurance. Our checklist will help you understand what makes the best business insurance and what you can do to be best protected.
Read MoreApril 17, 2015
-
Are you ready to scale up your business?
When your company is thriving, you may consider scaling up. This article looks at key considerations to take into account when scaling up your business.
Read MoreMarch 21, 2016
-
Managing the growth of a small business
Ruth badger gives her expert advice for micro businesses for managing their growth and increasing profits.
Read MoreFebruary 01, 2013
-
Making Tax Digital for Businesses
Making Tax Digital (MTD) will affect all businesses and is a key element of the government’s plans to make it easier for businesses and individuals.
Read MoreNovember 25, 2020
-
Business Insurance Jargon Buster - the ins and outs of insurance
Use our simple jargon buster to find out what various business insurance phrases and terms mean.
Read MoreJuly 02, 2021