United Kingdom
United States
Asia Pacific
Freedom secures business insurance for members
A group business insurance deal has been secured for members of independent agents consortium Freedom.
The group has arranged a group policy through KMT and Castle Insurance, which is underwritten by Norwich Union and Sun Alliance, to cover members with Fidelity, Public Liability and Professional Indemnity insurance.
Premiums are calculated on annual turnover and an agent generating £500,000 a year will pay £37 a month while, an agent earning £1 million a year will pay £73 a month.
The bespoke policy provides members with a Fidelity guarantee of up to £50,000 on any one claim, the Public Liability for up to £5 million on a single claim and Professional Indemnity for up to £1 million on a single claim.
Freedom Travel Agents’ Consortium general manager Trevor Davis said: “A lot of people don’t realise a travel agent needs this to trade. It’s tough enough with increased competition from the internet, direct sell from tour operators, reduced commission rates and business overheads without even thinking about business insurance.
“We have got agents who are finding it almost impossible to get quotes from insurers so we have used our collective negotiating strength to get a good deal. Members can trade safe in the knowledge that they are covered and Freedom, as an organisation, also knows they are covered because we are responsible for our members.”
Freedom is making the insurance policy mandatory for any new members but recognises many existing members will already have a policy in place. However, it hopes that as existing policies come up for renewal, they will switch to the group policy.
The insurance is being offered to members from this month and members will have the flexibility to pay in monthly instalments to spread the cost.
Report by Phil Davies
Phil Davies
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Woman dies after going overboard in English Channel