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.

Latest News

  • Aviation

Low-cost Indian carrier SpiceJet continues to burn cash

It’s not just low-cost Australian carriers that are facing hardship. SpiceJet, India’s version of Bonza, recently announced a 72 per cent reduction in its net loss versus last year. But, despite this improvement, the airline has posted losses for six straight years. But it has secured board approval to raise up to INR 30 billion […]

  • Attractions

SAKA Museum recognised in TIME magazine’s World’s Greatest Places 2024

AYANA Resort Bali’s newly-opened cultural and events centre, SAKA Museum has been recognised in TIME magazine’s World’s Greatest Places list for 2024. Part of AYANA Bali’s resort destination, the museum integrates Bali’s rich history with state-of-the-art facilities, making it the centrepiece for the island’s spiritual and cultural heritage. TIME magazine’s inclusion of SAKA Museum in […]

  • Cruise

Silversea taps Barbara Biffi as senior vice president for global sales

Ultra-luxury and expedition cruise travel brand, Silverseas, has announced Barbara Biffi as its new senior vice president of global sales. Biffi joined the company in 2007, holding numerous positions and gaining a deep understanding of the brand, the preferences of its guests and its strategic goals, the company said. An Italian national with a wealth […]

  • Technology
  • Travel Agents

Amadeus welcomes FCM Travel as new reseller partner of Cytric Easy

Cytric Easy, the travel management tool embedded in Microsoft Teams, is to be integrated into FCM Travel portfolio. Amadeus and FCM Travel have extended their Cytric distribution agreement to include Cytric Easy. With this new agreement, global travel management company FCM Travel, becomes a reseller of the innovative travel management collaboration solution embedded into Microsoft […]