TravelManagers Offers Robust Protection Amid Air Vanuatu Challenges: What you need to know

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Protection Amidst Financial Instability

In the wake of Air Vanuatu’s financial collapse, TravelManagers has demonstrated the effectiveness of its Credit Card Charge Back Insurance (CCCBI) policy. This protection has been crucial in safeguarding personal travel managers (PTMs) and their clients from potential losses associated with credit card chargebacks.The sudden liquidation of Air Vanuatu left many travel advisors and clients in a precarious situation. When a supplier fails to deliver services due to insolvency, travel advisors acting as merchants can be liable for the gross charge if clients demand refunds. However, TravelManagers’ CCCBI policy has mitigated these risks, ensuring financial security for both advisors and clients.

Credit Card Charge Back Insurance Policy in Action

Grant Campbell, Chief Commercial Officer of TravelManagers, reported that 13 personal travel managers with clients affected by the Air Vanuatu collapse were protected under this policy. To date, the policy has paid out over $30,000 in claims, ensuring zero losses from credit card chargebacks related to the collapse.

“The policy has ensured we have incurred zero losses from credit card chargebacks in the wake of Air Vanuatu’s financial collapse,” Campbell stated.

Importance of Consumer and Agent Protections

The recent financial troubles of Rex Airlines highlight the ongoing risks within the travel industry, reinforcing the necessity of robust consumer and agent protections. Campbell emphasized that TravelManagers is currently the only travel company in Australia offering such comprehensive protection, making it a critical safety net for travel advisors.

“Without a Credit Card Charge Back Insurance policy – and we believe TravelManagers is the only travel company in Australia to have this protection in place – there is little that can be done to protect against this risk,” he noted.

Real-Life Experiences

New personal travel managers Bianca Aarts shared her experience, emphasizing the value of TravelManagers’ protections. Initially unaware of the importance of such measures, she now sees them as vital, particularly after facing Air Vanuatu’s insolvency early in her career.

“Sadly, travel suppliers becoming insolvent isn’t a new thing and dealing with such a situation was my biggest fear in starting a business of my own,” Aarts said. “Although it hasn’t been great to have one happen within my first six months, I am so grateful TravelManagers has this protection in place.”

Darren Christensen, another personal travel managers, echoed these sentiments. Having dealt with the financial failures of established suppliers twice, he credited TravelManagers’ risk mitigation measures for protecting his clients and his business.

“It’s every travel advisor’s worst nightmare to have to tell a client that their money is gone because of a supplier’s financial failure,” Campbell added. “TravelManagers’ industry-leading consumer protections, which also provide protection for agent commissions, ensure that these conversations never have to happen.”

Looking Forward

TravelManagers continues to lead the industry with its commitment to consumer and agent protections. By maintaining comprehensive insurance policies and risk mitigation strategies, they offer unparalleled security and peace of mind for their personal travel managers and clients.