Rock Insurance offers agents dynamic packaging cover

2/11/2010 6:35:00 PM

Rock Insurance has enhanced its Supplier Failure Cover (SFC) to offer added protection to travel agents and tour operators selling dynamically packaged holidays. Managing Director Antony Martin said the commercial SFC extended protection to the end supplier of the holiday so that in the event of a failure, agents and operators would be “protected from incurring losses such as the all too common credit card charge backs.” He said SFC also covered ATOL non-payment and ATOL repatriation and stressed that because the cover was for the end supplier’s business, it only attracted a 5% insurance premium tax as opposed to 17.5% for selling insurance products. In addition, the policy has no excess, there is no requirement to be FSA-regulated and cover for one-off charter programmes can also be arranged. Rock Insurance said companies such as Hays Travel Group, On Holiday Group, 118 Travel, On the Beach and Club La Costa had already signed up to SFC. More than one million passengers are currently covered, the firm claimed.

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