Travel Risk Professionals Established Businesses

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As an established business you will already be aware of the basic insurance needs for your company. However, as your business grows, so do your insurance needs, which is why it is important to make sure that your business is not under-insured.

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Do you know what level of insurance is right for your business? Starting your own business is daunting enough without having to navigate the confusing world of insurance. We believe in building partnerships with start ups in order to help them make sure they have the right level of protection in place for their new business.

Protecting Your Evolving Business

Tour Operators & Travel Agents

Your evolving business will have many new insurance requirements which you might not be aware of. Most likely you have expanded in both turnover and employees which will naturally change your insurance policy, but there are other things to think about when your business has evolved from the start-up phase and moved into an established status.

Running a business in the digital era means so much more is at risk, and though every business is exposed, arguably established businesses have much more to lose when it comes to their brand which has often taken a long time to build into a credible asset. Equally as you have grown your client base you may have streamlined your processes digitally, which brings with it larger exposure to potential cyber-crimes.

We have extensive experience working with businesses from start up through to multi national businesses meaning that we understand how your requirements evolve and the new challenges you will face. Below is a short list outlining just some of the types of insurance your evolving business may need. If you would like to discuss anything in more detail please get in touch with our team.

Insurance to consider:

You will already be aware of the need for a Tour Operator and Travel Agent Liability policy, and it is highly likely that you already have one in place. As an established business it is likely that you have grown from your start up days and so need to ensure that you are reviewing your existing policies annually against your business size and requirements. We operator our own bespoke Liability scheme which is backed by leading Underwriters. This is a modular policy which allows you to build the cover that you need. The core cover is as follows:

  • Public/Products Liability
  • Professional Indemnity
  • Legal Expenses

You then have the option to extend cover to include the following if required:

  • Employers Liability
  • Office Insurance
  • 24/7 Crisis Response and Brand Protection

Cover is on a worldwide territorial basis and also includes worldwide legal jurisdiction.

21st Century technology deserves 21st Century insurance protection. Nowadays, your most valuable business assets aren’t necessarily physical…  You are more likely to have more money in your bank account than in your safe and a robbery doesn’t necessarily have to involve your premises being broken into.. Cyber criminals are very clever people and it is worth bearing in mind that if Governments can be hacked with all the millions of pounds of security and personnel at their disposal, then anyone is potentially at risk. Cyber risks are myriad and the common theme is that all can have a potentially catastrophic effect on either your profits, share price or consumer confidence.

We offer a range of policies which aim to assist in the event of a cyber attack, ransom situation or hack. Please contact us for further details.

Your tour operator liability policy is designed to meet claims made against the company. It is not intended to meet claims made against individual directors. Whilst the likelihood of a claim against an individual is much lower than those made against the company, the risk remains and failure to safeguard against this could lead to you having to personally foot the bill for a defence which could last months or even years, thereby putting your own assets at risk. this is a very cost effective form of peace of mind which we highly recommend you consider.

As an option to include within our tour operator policy we have created a unique service to meet the needs of our clients in a crisis. Using our years of experience in the handling of tour operator claims, we sought to put together a panel of experts who would best suit our clients’ needs in a crisis. Our cover responds to a range of defined crisis events including terrorism acts, traumatic death, air crashes, kidnap, hotel fires and more. If you should have the misfortune to be caught up in one of these events, how you respond can be pivotal to the future of the company. to this end we have created a product which puts you in touch with a range of specialists including:

 

  • Crisis coordinators in the UK and Overseas
  • Translators
  • Kidnap specialists
  • Trauma counsellors
  • PR & Media experts
  • Security personnel
  • Emergency air charter service

We have access to a range of other products which are all important in their own way and are not otherwise covered in the policies already mentioned. Each of these may represent a protectable exposure to risk for you and we will be happy to discuss any queries in more detail:

  • Supplier failure
  • Financial Failure
  • Travel Disruption Insurance
  • Bonds
  • Motor Insurance
  • Marine Liability
  • Key man cover
  • Property Insurance
  • Travel Insurance

What insurance do you need?

Travel Agents and Tour Operators

Knowing what insurance will protect your business is crucial when embarking on your journey as a new business owner. There are many myths surrounding what insurance you do and don’t need in the Travel and Tour Operator industry which means that you can easily find yourself without the correct protection in place.

There are different levels of insurance available, and the right ones for you will depend on the size of your business and the activities you undertake. The below will give you an idea of what to speak to your broker about to fully understand whether or not your business needs them. It’s a good idea to explore the different options at each policy renewal as your requirements will change as you grow.

Our long-established bespoke Liability scheme is aimed at UK Tour Operators & Travel Agents. We offer a broad range of cover designed to meet various risk exposures faced by the Travel Industry.

In many cases Financial Failure Insurance is a regulatory requirement designed to protect you and your clients in the event their payments are placed at risk.

Effective and appropriate crisis response can be the making or breaking of your brand. We recognise that crisis can take many forms but every event will happen when least expected and will have the potential to be devastating.

With great reliability on and continuing developments in technology, the need for cyber insurance protection is as important as ever. Regardless of the size of your business, the threat of a cyber attack has become a very common possibility.

A very important form of insurance which aims to provide protection for individual Company Directors & Officers, who may find themselves with the misfortune of having to handle and defend claims made against them personally.

We can offer office insurance as an extension to our tour operator liability policy which reduces admin by only having one policy.

Our long-established bespoke Liability scheme is aimed at UK Tour Operators & Travel Agents. We offer a broad range of cover designed to meet various risk exposures faced by the Travel Industry.

In many cases Financial Failure Insurance is a regulatory requirement designed to protect you and your clients in the event their payments are placed at risk.

Effective and appropriate crisis response can be the making or breaking of your brand. We recognise that crisis can take many forms but every event will happen when least expected and will have the potential to be devastating.

With great reliability on and continuing developments in technology, the need for cyber insurance protection is as important as ever. Regardless of the size of your business, the threat of a cyber attack has become a very common possibility.

A very important form of insurance which aims to provide protection for individual Company Directors & Officers, who may find themselves with the misfortune of having to handle and defend claims made against them personally.

We can offer office insurance as an extension to our tour operator liability policy which reduces admin by only having one policy.

Your Travel Risk Professionals Team

Industry Leading Expertise

Alan Pattison

Travel Risk Professionals Managing Director

T: 0203 705 3014

Alan has over 20 years’ experience insuring tour operators from start-ups through to household names. Invested in educating businesses within the travel and tour industry, Alan regularly speaks on the lecture circuit and is a member of the Institute of Travel & Tourism.

Harry Morris

Travel and Tourism Account Handler

T: 020 3786 3046

Harry provides support with the day to day needs of our tour operator and travel agent clients within our liability scheme. He manages a range of insurance policies on behalf of our clients from Liability through to Financial Failure.

Heidi Schlechter

Commercial Account Handler

T: 01406 423 565

With more than 10 years experience in the Travel and Tour insurance sector, Heidi is responsible for handling enquiries along with processing renewals and new business quotations for the team.

Emma Rutter

Travel and Tourism Underwriter

T: 0203 705 3037

Emma has over 10 years’ experience in the Lloyd’s market and is responsible for handling & preparing the quotations for some of our largest customers. Working alongside the MD, Emma is also responsible for managing the technical operation of our in-house liability scheme.

Alan Pattison

Travel Risk Professionals Managing Director

Alan has over 20 years’ experience insuring tour operators from start-ups through to household names. Invested in educating businesses within the travel and tour industry, Alan regularly speaks on the lecture circuit and is a member of the Institute of Travel & Tourism.

Harry Morris

Travel and Tourism Account Handler

Harry provides support with the day to day needs of our tour operator and travel agent clients within our liability scheme. He manages a range of insurance policies on behalf of our clients from Liability through to Financial Failure.

Heidi Schlechter

Commercial Account Handler

With more than 10 years experience in the Travel and Tour insurance sector, Heidi is responsible for handling enquiries along with processing renewals and new business quotations for the team.

Emma Rutter

Travel and Tourism Underwriter

Emma has over 10 years’ experience in the Lloyd’s market and is responsible for handling & preparing the quotations for some of our largest customers. Working alongside the MD, Emma is also responsible for managing the technical operation of our in-house liability scheme.

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Download your free Risk Management Guide

A strong risk management strategy can have a huge impact on the price of your insurance as it reduces the likelihood of a claim.

However, in order to successfully implement this many businesses will rely on their employees. We believe in educating and supporting our clients which is why we advise business owners to download our free Risk Management Guide for their staff.

Download your free Risk Management Guide

A strong risk management strategy can have a huge impact on the price of your insurance as it reduces the likelihood of a claim.

However, in order to successfully implement this many businesses will rely on their employees. We believe in educating and supporting our clients which is why we advise business owners to download our free Risk Management Guide for their staff.

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Frequently asked questions

Is an online office insurance policy suitable liability protection for my business as a tour operator?

No – As a tour operator or travel agent you are exposed to a unique set of liability risks which are not generally covered by online or standard office insurance policies. Please seek specialist insurance advice on the suitability of your planned insurance arrangements, as the liability risk can be very costly.

I have a Tour Operator Liability policy. Does this cover for me for force majeure events?
Typically no. a Tour operator liability policy is generally intended to respond to claims made against you which arise out of the unintentionally negligent acts of you or your suppliers. You may still have an obligation to pay out refunds or compensation in a force majeure event, but this would typically fall under what is termed ‘ Travel Disruption Insurance’

How do I protect myself against the effects of one of my suppliers going bust?
This can only be protected against under a supplier failure or scheduled airline failure policy.

We transport passengers in our own company vehicles. Are we covered?
You have to make sure that your motor insurance or fleet policy covers you for this. In the same way if you operate marine craft, you would need to have a marine policy in force to pick up claims for any injury caused whilst in board a boat or in a vehicle owned or operated by you or your staff.

I have received charge backs as a result of a fraudulent credit card being used to pay for a flight. Can I claim under my liability insurance?
No – this would be viewed as a commercial risk outside of liability insurance

If my computer systems have been hacked, what insurance would I need to help me respond?
This would be a specialist Cyber & Privacy Insurance policy

Does the Tour Operator Liability policy cover claims made against me as Director personally?
No – the tour operator liability policy is designed to respond to claims made against the company. To provide legal defence costs cover in the event a claim is made against you personally