Financial Failure Insurance – Frequently Asked Questions

Financial Failure Insurance is a type of insurance policy that protects your consumers if your company fails. ABTOT can organise Total Payment Protection (TOPP) financial failure insurance as an alternative to Travel Bonding, which complies with the UK Package Travel Regulations through its sister company Travel & General Insurance. See Financial Failure Insurance | ABTOT Business Protection 

Web users often use various search terms to find information about Financial Failure Insurance, including:

• Financial Failure Insurance Scheme
• Financial Failure Insurance UK
• Travel Insurance Financial Failure Cover
• Financial Failure Scheme

A Financial Failure Insurance policy, compliant with the UK Travel Regulations, provides consumer financial protection to your clients in the event of your company’s failure. It is a pay-as-you-go insurance policy. Travel Organisers pay a percentage of the annual insurance premium upfront and the remainder in monthly passenger declarations. 

No, Financial Failure Insurance is a specialist insurance designed for the UK Travel Industry to meet the UK Package Travel Regulations and financially protect consumers’ money if their Travel Organiser fails. 

While standard travel insurance may include some coverage for trip cancellations or interruptions, it does not provide comprehensive protection for Travel Companies Insolvency.