How travel agent professional indemnity cover can provide a safety net
A competitive market means travel arrangements can be sorted out more cheaply than ever before. The industry itself is also a rewarding one, particularly in you have a good rapport with clients and are able to draw on an admirable list of regular customers. Although a travel agent normally has to rely on other agencies such as airline firms, bus companies and hotels, they are still expected to provide satisfactory holidays to the people who buy them, and this means they are providing a professional service. If someone isn’t happy they can end up taking legal action, and this is arguably more likely in a more legally aware society. Travel agent professional indemnity cover will help protect you in such circumstances, and allow you to get on with your business.
Although it can’t make a legal claim go away, this type of cover will pick up your legal bills which will be run up during the defence of a case. Sometimes these costs can run into thousands or hundreds of thousands of pounds depending on what is involved, and having an insurer pay the costs takes off a lot of financial pressure and strain.
A significant legal action might seem a million miles away, but a simple slip up in the arrangements for someone’s holiday could mean some people are inclined to sue. Travel agent professional indemnity cover will protect you if someone accuses your business of making a mistake, omission, or even committing an act of negligence.
Gone are the days when people had fairly open relationships with employers and incident could get them into a scrape, say if they were late back from holiday. If someone is delayed because of an error a travel agent has made, and then ends up in trouble at work and even loses their job, they could be minded to seek compensation.
This is just one example of what indemnity cover would protect you against. It will even pay for the cost of compensation for the other side if it is awarded. All a travel agent firm has to do is decide what level of cover they want, and the larger the company, typically the larger amount of protection they will need. So a firm may want protection up to £0.5 million worth of legal bills, while another may want cover for a million pounds or more.
There are other handy extras attached to most policies, such as public liability, protection if you’re accused of losing or damaging someone’s important documents, cover if you’re accused of unintentional defamation, breach of copyright or confidence, and even cover if an employee is accused of an act of dishonesty.
This means Travel Agent Professional indemnity cover can provide protection from a wide variety of pitfalls, some of which could bring down a business which is not properly prepared.
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