An insurer has stopped providing travel agents with cover for Thomas Cook.
Northern & Western Insurance Company has stopped providing supplier failure insurance to travel agents dealing with Thomas Cook.
Supplier failure is an insurance for travel agents against the risk of having to compensate their clients on the failure of part of the travel package.
Northern & Western’s decision has made travel agents pull business with Thomas Cook.
Hays Travel, TTA Worldchoice and Advantage have also notified their agents about the new stance.
Hays Travel managing director John Hays said the group was supportive of Thomas Cook but had “no choice” but to stop selling flight-only and accommodation-only.
He told Travel Weekly: “This did come as a surprise and we have had no alternative but to take these products off sale.
“If we were to sell products without insurance cover our clients would be vulnerable. If and when we get the insurance cover we will reinstate these products; we want to get them back on sale.”
Small business affected by enforced closures will welcome today’s announcement from the Supreme Court supporting their business interruption claims.
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