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ABTOT provides its members with access to travel bonds, the market’s preferred method of financial protection. ABTOT is linked to t&g and can provide efficient and highly competitive travel bonding rates.
If you have previously bonded through your bank you might be surprised to know that t&g’s insurance-backed travel bond rates are now generally in line with bank bonding rates. In addition, with insurance-backed travel bonds, we generally don’t need you to provide any security, which means you can use your money to grow your business.
Travel bonds – a formal undertaking to pay a sum of money to ABTOT in the event of a member’s financial failure, primarily for the purpose of reimbursing customers who would otherwise lose money. The level of travel bond required varies from member to member. Our membership team will tailor the travel bond to account for the aspects of your particular business. The minimum travel bond requirement is £20,000.
Shortfall insurance – a second level of insurance in case the member’s individual travel bond is insufficient in the event of a claim. Each member is required to contribute to the scheme, and the amount payable is dependent upon the size of travel bonded turnover.
ABTrust – is ABTOT’s new financial protection solution aimed at startup travel organisers, occasional organisers and charities. ABTrust provides a stepping stone to the market’s preferred method of financial protection, travel bonds. It is based around the concept of a trust fund providing the financial protection for travel organiser’s customers. See the ABTrust section for more information.
Travel insurance – who better to provide travel insurance to your customers than you? Adequate travel insurance is an essential part of any holiday and we believe travel organisers are uniquely placed to sell travel insurance tailored to their customers’ needs. Click HERE to go to t&g’s site for more information.
Liability insurance – No matter how well a travel itinerary is planned, things sometimes do go wrong. In these circumstances, it’s important to take steps where possible to protect your business. A combined liability insurance policy is also a requirement of joining ABTOT. It has four sections: public/products liability; professional indemnity; employer’s liability, and emergency assistance. Click HERE for a tailored quote.
Other insurances – Through our relationship with t&g we can offer a wide range of travel-focused insurance products. These include:
If you would like to find out more about the insurances they can offer, you can find more information on t&g’s website HERE
NEW ABTOT Combined
Opening the door to cover for licensable and non-licensable turnoverLearn more
NEW ABTOT merchant services
Take advantage of our unique merchant services facilityLearn more