Independent insurance broker Wrightsure has underlined that one of its specialist surety insurers continues to welcome applications for consumer protection insurance from coach operators that are active in the tour segment.
The broker says that the high-profile failure of some major travel companies during the coronavirus COVID-19 pandemic – including Specialist Leisure Group in May – led several insurers to remove themselves from the travel surety market. That has caused insurance capacity in that sector to be “significantly reduced.”
As a result, some businesses have needed to look at alternative ways of complying with the Package Travel and Linked Travel Arrangement Regulation 2018 from a consumer protection perspective, says Andrew Day, Wrightsure specialist for the sector.
“Accordingly, we are currently in discussions with several leading industry stakeholders to ensure that, where possible, we can provide the UK coach industry with a solution that allows travel companies to trade in a legal and compliant manner.
“This is particularly important should it transpire that the Financial Failure or Bonding route is not the way forwards for them.”
Mr Day adds that he will be pleased to undertake a complimentary review of any operator’s incumbent consumer protection arrangements to see how Wrightsure may assist. A no-obligation, 10-minute telephone consultation has been offered by Mr Day. He can be contacted on 07740 107942 or alternatively via email.
