Here are a few more common things E&O covers:
1. Agent mistakes where the client is at a financial loss.
Agents tell us, “I never make mistakes – I’m a professional!” But in reality, booking errors happen all the time. Also, it’s very difficult for agents to know anything and everything about a specific destination.
This takes on added importance when you realize that most travel professionals are partially if not entirely dependent on other businesses (sometimes located outside of the United States) in order to execute the services they’ve sold.
If a client is injured on a trip, their property is stolen or damaged while in the custody of a recommended vendor, the traveler has a vehicle accident, or a service provider unexpectedly goes bankrupt, travel-specific E&O insurance will work to make the client financially whole while minimizing out-of-pocket expenses for the agent and preserving their ability to continue operations.
Photo credit: Nathan Dumlao via Unsplash.
2. Travel situations resulting in a client’s financial loss, bodily injury, or personal injury.
If a client is injured on a trip and holds the agent liable, we will defend the agent – and those situations can be extremely expensive.
For example, if a traveler is on a bus tour, the bus crashes and s/he is injured, even though you had nothing to do with the accident, you as the travel agent can still be held liable for “advising” the customer to take an unsafe excursion. Even in the case of a frivolous lawsuit, BHTP fulfills its duty to defend.
3. Internet-liability coverage.
When our E&O policy was created in 1985, travel was booked very differently. In the modern age, most bookings and correspondence are done online. Internet-liability coverage was added to protect agents from anything conveyed online that eventually leads to a claim.
Photo credit: Olu Eletu via Unsplash.
4. Peace of mind!
You work really hard to build your business. You don’t want one mistake to put you out of it!
Whether it’s an unforeseen circumstance, booking error, or frivolous lawsuit, BHTP is here to defend you, protect your finances and preserve your livelihood.
E&O insurance is an easy decision for business owners, since an unforeseen allegation can cause a mature, successful business to go bankrupt overnight.
It’s important to find the proper type of business insurance to fulfill your specific needs, and our team of E&O professionals is on hand to guide you to the most suitable policy.