Magellan Travel Group is following in the footsteps of Travel Counsellors and MTA, with a new consumer and agency protection solution.
Unveiled overnight, the solution was launched in conjunction with global risk advisers, Willis Australia, to offer consumer security against supplier failure and credit card chargeback.
It follows on from the abolishment of the Travel Compensation Fund (TCF), which was phased out on 30 June last year.
The TCF, which was first established in the 1980s, provided compensation to travel clients who suffered loss caused by insolvencies in the industry. This could include a travel agent collapse or unexpected supplier bankruptcy.
Officially winding up this year, the TCF was replaced by the AFTA Travel Accreditation Scheme, which vets travel agents against a range of strict criteria and professional standards.
Since the introduction of ATAS, agencies have taken customer protection into their own hands, with self-constructed solutions.
This includes Travel Cousellors, which launched its scheme on 1 July last year to protect travellers’ money if any supplier, wholesaler, hotel or airline booked through the agency group is no longer able to fulfill travel arrangements.
A similar, solution was introduced by MTA in February this year. ‘Zero Flight Risk‘ protects clients from any financial losses caused by unexpected industry related circumstances. Read on
Now, Magellan Travel with Willis Australia has delivered a new policy to protect Magellan Travel’s member agents and their clients across the country.
According to CEO Andrew Macfarlene, the solution covers the failure of any supplier and agency insolvency. It also protects customer’s money from the time of payment to fulfilment.
“Our brief to Willis was to create a market-leading solution for agents who want their clients’ funds protected against the insolvency of any of their suppliers and need to protect themselves from credit card chargeback.”
Andrew Macfarlene, Magellan Travel CEO
“It was great to work with an organisation with considerable insurance and risk expertise, coupled with travel industry experience.”
Willis’ Victorian General Manager Brent Lehmann said the company enjoyed the challenge of delivering ‘a comprehensive and affordable solution’.
“Our ability to engage with an organisation with an excellent risk profile, backed by a network of supportive and engaging agents, allowed Willis to work with the insurance market and provide a high-quality, professionally underwritten solution for the Magellan Travel Group.”
Brent Lehmann, Willis Australia General Manager of Victoria
