Financial failure insurance

Financial failure insurance

The global economic downturn has had an especially detrimental effect on travel agencies. Market conditions have become even more challenging because of factors like reduced airline revenue, closures within the hotel industry and the need for ATOL-bonded operators to find alternative air travel for their customers.

In this environment, it is a sad fact that talented people are being made redundant and businesses are closing. However, the ashes of a failed travel business can be fertile ground for a new start up, providing that existing liabilities have been met.

Towergate Chapman Stevens are one of the market leaders in financial failure insurance and passenger protection insurance. We have created a financial failure insurance scheme, which is easy to administer, in order to meet the requirements of The Package Travel Regulations.

Our specially designed scheme is available to all tour operators and accommodation/villa providers; subject to status upon application.

Key features

• 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

For more information on any of our financial failure insurance policies, email us or call our specialist staff on 01932 334 140.

• Financial failure application form
• Villa owners financial failure application form
• Bond application form