TravelManagers has collaborated with insurance broker Gow-Gates to create a new Travel Agent Client Trust Account Fidelity Insurance (TACTAFI) product.
Designed specifically to protect consumers funds while in the hands of a travel intermediary, the new insurance shows TravelManagers continued market leading drive in consumer advocacy by
TravelManagers is currently the only travel company to commit to TACTAFI and offer its clients true peace of mind around client fund protection, following the introduction of the Australian Travel Accreditation Scheme (ATAS).
TACTAFI will work similar to the Travel Compensation Fund (TCF) to protect client payments that are received by TravelManagers for travel services between the time monies are received up until the time that those funds are paid to the end travel providers/suppliers.
All TravelManagers customers are automatically afforded this extra protection, with no opt in / opt out option. Additionally, TravelManagers is also able to offer its clients protection against the insolvency of end suppliers such as airlines, hotels and cruise companies, as part of its traditional travel insurance.
TravelManagers’ chairman Barry Mayo has been vocal about the need for great consumer protection since the TCF ended and ATAS came into play. May said after reviewing the various optional insurance products on offer TravelManagers’ agreed the products available were not ideally suited for their specific requirements, in particular due to the existing use of an audited Client Trust Account already in place for TravelManagers clients.
“For this reason TravelManagers entered into discussion with Gow-Gates to explore tailored insurance solutions which could be specifically designed to enhance consumers’ peace of mind as to the security and protection of their funds,” Mayo said.
Gow-Gates’ chief executive officer Chris MacKinnon said they had worked hard with
the Australian Federation of Travel Agents (AFTA) to provide a range of optional insurance products to compliment ATAS, and to suit the needs of as many industry participants as possible.
“We have welcomed TravelManagers enthusiasm, direct feedback and engagement with this project, and we are delighted to have been able to collaborate with TravelManagers to create yet another tangible value proposition for travel intermediaries to be able to provide peace of mind to their customers,” MacKinnon added.
The new coverage is effective immediately for TravelManagers’ clients.
