Calamity Fund: Who Qualifies and What You Get
Travel agents selling package tours can receive coverage for extra costs caused by natural disasters or war through this fund.
The Calamity Fund acts as a protective measure for those in the travel industry, offering a way to manage the financial strain caused by major unforeseen events.
Who it's for
This scheme is specifically intended for travel agents who sell package tours. It is designed to support those in the professional travel sector who are responsible for organizing and selling complete travel packages to their clients.
What you get
The primary benefit is coverage for extra costs that arise when travel plans are disrupted by extreme circumstances. This includes financial protection against the unexpected expenses caused by natural disasters or the outbreak of war. This coverage helps mitigate the financial impact that these major events can have on travel operations and the associated costs of managing such disruptions.
What it costs you
Participating in this protection requires a small fee for every booking made. This fee is integrated into your business operations, ensuring that you have coverage in place for the tours you sell.
The catch to know
It is important to understand that coverage is not granted for every unplanned event or disruption. The fund only provides protection if the fund officially declares a specific situation to be a "calamity." If an event has not been formally designated as such by the issuing body, the extra costs may not be covered.
How to apply
- Confirm that your business model involves selling package tours as a travel agent.
- Ensure that the required fee is paid for each booking to maintain your eligibility for coverage.
- Stay informed about whether a specific event has been officially declared a "calamity" by the issuing organization.
- Follow the fund's specific procedures for claiming coverage once a declared calamity occurs.