International Passenger Protection Limited (IPP) has signed on to offer its Default Insurance Policy for both IATA BSP and CASS Agents in Australia.
The Australian Federation of Travel Agents has welcomed the announcement with open arms, with AFTA’s chief executive Jayson Westbury saying its an important part of supporting Aussie travel agents.
“AFTA has a long history with Gow-Gates Insurance Brokers and an excellent working history with IPP,” Westbury said.
“Together these two organisations know the Australian travel industry and this is an important part of any provider in the IATA DIP market.”
“IPP have been long-time supporters of Australian travel agents and this announcement will ensure agents have appropriate access to DIP should it be needed for IATA accreditation.
“Gow-Gates have impeccable credentials when it comes to looking after travel agents and I am sure that those IATA agents who seek assistance from Gow-Gates for their DIP will be very pleased with the service they receive.”
Gow Gates is regulated by the Australian Securities and Investments Commission (ASIC), and is renowned for specialising in travel agent and tour operator products.
IPP is the oldest and largest provider of DIP globally to IATA and provides agents with a competitive solution that doesn’t tie up an agent’s cash or assets, pinned as a better alternative to traditional bank guarantees.
IPP is an Underwriting Agency regulated in the UK by the FCA and a cover holder for Liberty International Underwriters (LIU) in Australia.
LIU, through IPP, has been approved by IATA to provide an Insurance policy to cover the default of any declared and agreed agents.
One policy will be issued to IATA as the Policy Holder and Beneficiary, listing all agreed agents, with agents needing to apply and register to join the policy as a named agent and pay the appropriate premium plus locally applicably taxes.
All accepted agents will join the policy during the 12 month policy period and have common expiry and renewal date.