Magellan insures its agents against insolvency

Magellan insures its agents against insolvency

Magellan Travel Group has made some changes to its Book Smart tool to make sure agents have insurance in place to respond to unforeseen problems and demands.

The Group has branded its Consumer and Agency Protection Solution “Book Smart”, and provided its members with marketing collateral that explains how to respond in the event they or a customer loses funds due to supplier or agent insolvency, as well as subsequent complaints that arise.

“It is an interesting marketing proposition because many of our members’ customers choose them in the first place because of the confidence they have in their financial security and the care they take to select quality suppliers that are also secure”, Magellan’s chief executive officer Andrew Macfarlane said.

“Having said that there is increased interest from consumers in how their travel agency protects their money in light of both recent Agent failures and historical supplier failures, including airlines, so our members wanted to be able to put their customers minds at rest should they have any such concerns”.

“Book SmartTM gives participating member agents the ability to reassure customers that if their travel arrangements are not delivered due to supplier or agent insolvency, the agent has ensured protection is in place.”

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