Travel Trends for 2012: What Will Tour Operators Be Booking and Are They Protected with E&O Insurance?
If you’re providing insurance for tour operators – such as Errors & Omissions – it’s a good idea to know the type of tours they’re busy booking this year and to make sure they’re adequately covered while making arrangements for their customers’ travels.
- The Summer Olympics in London is on everyone’s radar, taking place July 27 through August 12th, so Great Britain will be a prime destination.
- Croatia, Vietnam, and Panama were named as “up and coming” destinations in an annual survey of 640 travel agents and owners from Travel Leaders. For top 10 international destinations based on 2012 booking data, the Travel Leaders survey listed Caribbean cruises; Cancun, Mexico; Playa del Carmen, Mexico; Mediterranean cruises; Rome; London; Punta Cana, Dominican Republic; Paris; Montego Bay and Negril, Jamaica.
- Under new State Department regulations citizens can now travel to Cuba legally even if they don’t have relatives there. But only certain types of trips are permitted to meet State Department standards, which require itineraries to have a religious, humanitarian, or educational purpose.
In a recent survey, 75% of members of the U.S. Tour Operators Association anticipate a growth in sales in 2012 as the economy improves. Eighty percent of agents and owners at Travel Leaders also said bookings for 2012 are so far equal to or higher than 2011. This is a good sign for the industry – and we believe for you as their insurance advisor.
When speaking with your clients, be sure they understand the types of exposures they face when planning these trips and how E&O insurance can help protect them against losses due to negligence, an error or omission, such as ticketing a client to the wrong airport; or a client who is injured while on a trip and sues the tour operator, claiming he or she did not explain that the destination poses certain dangers.
Caitlin-Morgan can help you provide an E&O solution for tour operators. Just give us a call at 877.226.1027.