Home Based Cruise Agents
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FREQUENTLY ASKED QUESTIONS
What is ERRORS & OMISSIONS INSURANCE?
One of the first items you may want to be familiar with is the terminology used to describe this coverage.
"Travel Agents’ Professional Liability Insurance" is commonly referred to as "Errors and Omissions", or simply "E&O".
Technically, errors and omissions coverage represents only one component of a comprehensive "Travel Agents’ Professional Liability" policy. The type of claim that would fall under the "E&O" category would be a client alleging that an agent booked an incorrect departure date.
Unfortunately, claims are also made against travel companies for situations that involve bodily injury to a client. One distinction of the travel industry is that unlike most other types of businesses, travel agencies need protection for bodily injury claims that could occur anywhere in the world. After all, it was the travel company who arranged the trip for the client. The coverage that is selected should recognize this type of travel-related exposure.
Storefront offices often maintain General Liability coverage for incidents arising out of business operations. However, standard commercial coverage such as a "Business Owner’s Policy" (BOP) or "Commercial General Liability" (CGL) are typically not designed for the unique worldwide exposures of a travel company.
A quality "Travel Agents’ Professional Liability" policy should provide worldwide liability coverage for "E&O’ in addition to "Bodily Injury" (BI) and "Property Damage" (PD) claims of the agency’s clients.
This is one reason why a policy specifically designed for the industry has earned its place in travel companies’ insurance portfolios. But not all programs are created equal.
The program you select should have personnel with experience underwriting exposures & handling professional liability claims for travel companies.
Although a claim is always undesirable, the knowledge of the staff responsible for working on your claim is invaluable when it is time to protect your agency. Look for specific experience in the very specialized travel industry professional liability area.
Of course, the coverage form is also of utmost importance. Follow our links to the Berkely coverage overview for more details on how our program protects travel companies.
Travel agents are charging fees for travel arrangements, which may in turn result in a greater risk of being sued. Unhappy consumers may embark on expensive lawsuits to recover either real or perceived damages. This policy pays DEFENSE & SETTLEMENT COSTS up to the policy limit of the insured. Let the travel agents professional liability policy assume the risk.
For good reason too. Defense costs are now ranging $15,000 upwards depending on the suit and settlement costs are varying from $50,000 into the millions, depending on the severity of the case.
PROTECTION AT SO Little COST! A top-rated policy.
Benefits:
* True Occurrence Policy
* Pays on behalf of the insured all sums which the insured shall become
legally obligated to pay as damages
* Protects the insured against bodily injury or property damage by an
occurrence arising out of travel agency operations and an occurrence for
non-owned or hired automobile in travel agency operations.
* Protection for negligent acts, errors or omissions of the insured or
any person for whose acts the named insured is legally liable in the conduct
of travel agency operations.
* Protection for personal injury arising out of travel agency operations.
* Pays defense costs, settlements and judgments up to the applicable limit
of liability.
This important policy provides comprehensive coverage for "all operations necessary and incidental" to a travel operation, except for claims that are specifically excluded. It responds to covered claims and lawsuits brought anywhere in the world.
Berekely Insurance is a recognized leader inthe industry, providing professional liability protection to travel companies for over 25 years, and offering its insured clients the peace of mind associated with a sound, stable program. Having managed this specialized line of insurance coverage for many years, Berkely offers its clients unparalleled experience in underwriting, claims handling, and policy structuring, all aimed at meeting the unique exposures faced by today’s home based travel agents.
Berkely is considered a leader in the travel industry insurance arena largely in recognition of its uncompromising emphasis on service and reliability. Dozens of travel agency and tour operator organizations support the Berkely program as a preferred supplier.
Prompt, Effective Claims Handling with access to some of the most well known & respected legal counsel specializing in travel related law.
We have this coverage available to all Home Based Cruise Agents as a rider to our company policy. Currently $100.00 per year.
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we will try to answer it and, perhaps, include it in our FAQ's.
Check out the agreement to become a home based cruise agent for Absolute Best Cruises. See complete agreement HERE.
Absolute
Best Cruises
Home Based Cruise Agent Program
1128 Royal Palm Beach Blvd., #471
Royal Palm Beach, FL 33411
Questions? Call 1-866-546-2929 or send e-mail sail@1cruises.com to begin your at home business.
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