Travel

The surety market faces increasing limitations due to stricter underwriting, reduced capacity, and evolving regulations.

The travel sector has seen increasing pressure on financial protection requirements, particularly under ABTA and ATOL regulations. Following several high-profile insolvencies, underwriters have become more selective in providing bonding facilities due to the historically high loss ratios in this space.

Many insurers have exited the market, and those remaining often impose strict underwriting criteria, requiring detailed financial disclosures and, in some cases, collateral to secure bonding facilities. As a result, businesses operating in this sector must proactively engage with specialist brokers to secure the appropriate cover and ensure compliance with regulatory obligations.

ABTA/ATOL

If a firm is organising/selling holiday packages, and have the contract with the consumer, they are required to provide financial protection to customers who have made payments in advance of their package travel arrangements. This is a legal requirement as set out in the UK package Travel Regulations 2018 (PTRs).

The financial protection required covers all customers’ prepayments, repatriation if applicable and all claim handling and costs. Capacity is limited in this sector

What Our Clients Say

Having worked with Paul and his team for over twenty years, I have no hesitation in recommending Attis Credit Solutions. As well as sourcing the correct cover for all of our Credit Insurance needs, the team also provide us with on-going insight and sector specific market intelligence, enabling us to proactively manage our risk portfolio and keep bad debt to an absolute minimum.

Operations Director – £200m Energy Provider

Service is extremely important for us when selecting a broker and having experienced a fantastic level of service working with the team at Attis for around 10 years across various companies/brokerages, it was a no brainer for us to appoint Attis. They take time to understand your business and its needs.