Agents get new safety net insolvency solution

Agents get new safety net insolvency solution
By admin


In an Australian first, Allianz Global Assistance has launched a new type of insolvency solution for new travel insurance policies sold through specific travel agents in a bid to quash industry concern following the removal of the Travel Compensation Fund (TCF).

Allianz Global Assistance partners, Aussietravelcover and CHI, will be the first to market the insolvency solution for Australian travellers should one of the covered wholesalers or tour operators become insolvent.

Under the scheme, the claims policy will not direct customers to their bank to activate chargebacks where the travel agent is the merchant.

“The concerns of our partners and customers are at the forefront of our business. We take industry anxieties extremely seriously – particularly when we have observed risk and a potential threat to protection,” Allianz Global Assistance, ceo, John Myler said.

“We’re delighted to provide customers, and the wider travel industry, with a safety net of protection,” Myler said.

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