TravelManagers says the launch of its new “TravelManagers Customer Fund” (TCF) is the final component in its comprehensive consumer ‘Peace of Mind’ promise. It’s the culmination of a long-running project, with Director Barry Mayo envisoning the new offering ever since the former Government-backed Travel Compensation Fund was disbanded when the sector was deregulated in 2014.
TravelManagers Chief Operating Officer Grant Campbell said the group’s overall consumer protection offering comprises a network of offerings which help shield clients from financial loses that could result from the insolvency of scheduled airlines and end suppliers such as tour operators, cruise companies and hotels.
The TravelManagers TCF has accumulated $650,000 since its establishment in December 2019, with further regular contributions set to see it increase to $1 million by the end of next year.
“The fund has been ringfenced from TravelManagers’ general accounts by the establishment of a separate company with its own directors – an important element which upholds our commitment to governance and fiscal responsibility,” he said.
Other elements of the TravelManagers consumer protection framework include its Trust Account Fidelity Risk (TCTAFI) insurance product, and the company’s in-house Credit Card Chargeback Insurance (CCCBI).
“No agency owner, franchisee or home-based travel advisor wants to tell a customer that a supplier they have booked on their customers behalf has gone out of business and that the customer has lost their money,” Campbell said, noting that the protections work for TravelManagers members as well as their clients.
The program is detailed at join.travelmanagers.com.au.