Insolvency Protection for Package Holidays - Key Requirements for Compliance

Introduction

The travel industry is undoubtedly one of the most highly regulated industries in the UK, and with consumers paying thousands of pounds of their well-earned cash for holidays, often many months in advance of departure, tour operators, travel agents and airlines must comply with strict requirements to ensure that these consumers, and their monies, are properly protected.

Throughout the pandemic, a number of tour operators and airlines made the headlines for all the wrong reasons.

Worldwide travel bans left consumers unable to travel and, in some cases, travel companies failed - but who was responsible?

Who had to pay out the customers who could not travel?

And for those who couldn’t be refunded - where did their money go?

This new virtual classroom seminar will take an in-depth look at the strict requirements with which package holiday providers must comply by order of the Package Travel and Linked Travel Arrangement Regulations 2018, to ensure that consumers’ money is protected should the travel company subsequently fail.

What You Will Learn

This live and interactive session will cover the following:

• The definition of insolvency protection and what that the minimum level of protection must be
• The insolvency protection options, including ATOL, bonding, insurance and trust accounts
• Offences arising if the insolvency requirements are not adhered to
• Ongoing and current reviews of the process

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.