If you sell non-flight packages, Financial Failure Insurance offers a cost effective, flexible way of complying with your obligations under The Package Travel Regulations or as an alternative to bonding for your ABTA membership.
Financial Failure Insurance protects your customers in the unlikely event that you cease trading, with no restrictions on your cash, business systems or which suppliers you can use.
If you are applying for ABTA membership or are due to renew, you may wish to consider Financial Failure Insurance, which is accepted by ABTA as an alternative to bonding. We can offer quotations on both FFI and bonding, so that you can compare the costs and choose what’s best for your business.
Financial Failure Insurance is easy to apply for and if approved, you will receive a quotation detailing your premiums and any conditions of the policy.
There are no complicated administrative procedures and you simply report new bookings on a monthly basis.
Premiums are charged based on the actual bookings you take so you only pay for what you need, although you may be asked to pay an upfront premium based on your projected revenue, which will act as credit on your account.
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