Professional Liability Insurance (Mandatory): Who Qualifies and What You Get
Travel agencies in Switzerland must hold professional liability insurance to cover damages caused by professional negligence.
This mandatory requirement ensures that travel agencies have coverage to handle financial damages caused by professional mistakes or negligence.
Who it's for
This is for travel agencies that manage international bookings.
What you get
The insurance provides coverage for damages that arise from professional negligence. This helps protect your business if an error in your services leads to a claim.
What it costs you
You will need to pay an annual premium to maintain the policy. Additionally, you must be able to provide proof of this coverage to industry associations.
The catch to know
A common issue is that the coverage limits provided by these policies may be too low to cover the costs of high-value group tours.
How to apply
- Contact a private insurer that operates under the supervision of the national financial regulator.
- Request a quote based on your specific business needs and booking volume.
- Pay the required annual premium to activate your coverage.
- Keep your certificate of insurance ready to show industry associations when requested.