Many companies are trading outside of the Package Travel Regulations warns Insurer
16th February 2010
Travel insolvency specialists International Passenger Protection Ltd (IPP), have warned that many companies are operating outside of the 1992 Package Travel Regulations and risk large penalties if caught acting outside of the consumer law.
The warning comes as companies look to increase their product range and offer more than one component part of a trip per transaction. Under the Regulation the booking becomes a packaged trip even if just an overnight stay.
‘Take for example a hotel who are offering a hotel room plus theatre or concert ticket deal, they are now offering a package and need to comply with the Travel Package Regulations', warned Michelle Irvine, Underwriter at IPP. ‘To comply with the Regulation the organiser needs to provide security against their own financial failure for payments up to the completion of each packaged trip.'
‘These Companies may not realise that they are doing anything wrong but they face severe penalties if caught acting outside of the legislation, so they should look at their product range and speak to an expert to see if parts fall within the Regulation.
IPP have negotiated an exclusive contract with major international insurers to provide insurance cover to comply with the Legislation with minimal administration involved.
MORE INFORMATION
ProtectMyHoliday.com is a trading name of International Passenger Protection Limited (IPP) formed in 1990.
IPP is the largest and main supplier of Scheduled Airline Failure Insurance (SAFI) and cover for other parts of the holiday in the UK and world-wide operating in over 30 countries.
IPP operates as an underwriting agency on behalf of insurers and re-insurers who's combined net worth exceeds Euro 100 Billion
Source: ProtectMyHoliday.com
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Protect your holiday - Financial Failure Travel Insurance from as little as £5 per person
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