How Towergate Travel can Help With Your ABTA Bonding Requirements

For example:

1. To start, all our advice is completely free
2. We have a track record of excellence in this particular area helping our ever-growing portfolio of happy travel clients
3. Our team has all the necessary and relevant access to the Travel Bond Insurance market(s)
4. We also have exclusive new arrangements with AXA Insurance UK PLC
5. Our team and experts have been recognised and invited as guest speakers at a variety of ‘Think Tanks’ and travel events
6. Our continued professionalism and friendly team are there to help you. There isn’t a client too big or small

Over the course of the last two years, the Towergate Travel Team have successfully helped Tour Operators, Cruise Companies and Travel Companies secure new and larger bond requirements (including many respected and well-known brands).

Bank Bonding by way of cash or asset security

With such uncertainty around the markets and interest rates/inflation being so volatile, any assets and/or cash held against the Bond are quite possibly reducing in value – quickly.

We have spent time trying to help travel companies release much-needed cash flow and working capital back to their P&L by replacing bank-held bonds and/or parental guarantees, with insurance bonds.

By releasing cash back towards your P&L you could be in a better position to negotiate deals in other areas such as the early repayment of CBILS, other loans which could be repayable at higher interest rates, or help with other potential investment opportunities.

Replacing trust accounts

As has been well documented, the COVID period was significant, which is why we are seeing increased activity around the travel business trying to replace trust accounts, due to poor market conditions and/or the lack of appetite in the travel bond sector.

But, by being ABTA Bonded and securing Bonding by Insurance, it releases that much-needed cash flow we mentioned previously, back to the business.

As an ABTA Partner+, Towergate Travel, are one of a handful of bond brokers recognised by ABTA. We are a specialist insurance broker with over 50 years of experience, specialising in Travel Bonding or Financial Failure Insurance to comply with the 2018 Package Travel Directive. We work closely with the team at ABTA to ensure you get the right level of bonding and manage the process from start to finish.

Our other areas of industry expertise are:

• Travel Bonds
• Financial Failure Insurance
• Tour Operators Liability Insurance
• Travel Agents Office Combined

If you have any questions or would like to discuss your current bond or insurance arrangements, call us on 01932 334140 or email us at tcs@towergate.co.uk . To register your enquiry please do via our Travel Bonds page.