TravelManagers to review position on ATAS

TravelManagers to review position on ATAS
By admin


TravelManagers is set to review its position on the Australian Federation of Travel Agents’ ATAS accreditation scheme following its company-wide adoption of a consumer protection insurance product.

While chairman Barry Mayo has long voiced his support of a “robust” ATAS scheme, he has also been an active critic of the accreditation program’s lack of mandatory consumer protection as part of its offering.

While the home-based firm offers financial cover against supplier insolvency as part of its traditional travel insurance, it this week revealed it will also protect all of its clients from "fraudulent or dishonest activity".

The additional protection comes through a Gow Gates insurance product entitled Travel Agent Client Trust Account Fidelity Insurance (TACTAFI) which launched in June. TACTAFI provides protection for client funds held in a client trust account from fraud or theft up until the time that those funds are then paid to end suppliers.

According to Mayo, TravelManagers is the first and so far only travel company to commit to the new product which he said offers clients "true peace of mind" by ensuring their funds are "as safe as they were" under the former licensing regime and Travel Compensation Fund.

“Now that we have secured the ability to provide our clients with this guarantee, we will review our position on ATAS,” he said.

Meanwhile, AFTA chief executive Jayson Westbury declined to comment on the company's decision to reassess its position on ATAS, but welcomed the news that the company had adopted TACTAFI.

“It is great to see TM embracing the change in the regulatory environment and finding a commercial solution that meets their needs," he said.

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