Travel firms turning blind eye to the cost of crises

Source: Travel Weekly UK
Author: Travel Weekly
Date: August 02, 2011

Travel firms are putting their futures at risk by failing to properly prepare for crises involving their clients while they are on holiday.

A panel of experts that took part in a Travel Weekly roundtable said too many firms believe a crisis won’t happen to them and only realise the ramifications when it is too late.

The situation was said to be increasingly critical for travel firms as consumers become more litigious, news spreads more quickly and extensively via modern technology and more agents accept liability by creating their own bespoke trips.

Vince Wilkins, underwriter at Vantage Underwriting, which provides crisis management insurance policies to travel companies to enable to them to pay for their response, said the travel firm the consumer dealt with is the one that will be expected to react. 

“It’s your company’s reputation on the line; if you want to be trading next month you need a crisis response. Every company has to have a continuity plan that enables you to keep your business running.”

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