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ITC Travel Compliance
Saturday 21st October 2017 12:55pm

www.travelcompliance.co.uk
T: 0845 177 22 66
F: 0845 177 22 55

Travel Agents & Tour Operators

Your choice from the compliance routes available will depend upon a number of factors. Our experience tells us that there are a number of key questions you need answers to before making this important decision. For example:

Ask yourself:

  1. How long have you been with your current insurance provider?
  2. Do you think you will stay with the same product provider for at least the next 5 years?
  3. Does your current provider have products to suit every one of your customers?
  4. Are you getting the very best deal from your current provider?
  5. When a customer asks to buy a tour operators insurance, would you like to be in a position to sell it to them if you think it will better suit their needs compared to a 'one size fits all' policy?

Perhaps it could be worthwhile to research the market. If you always do what you've always done, you'll always get what you've always had! Members of the ITC Network have complete freedom to sell any FCA authorised product. We have no axe to grind - we do not provide or recommend products ourselves, we simply provide regulatory support, freedom of choice and peace of mind. Yes, there are other independent Networks, and if considering one, you should get answers to these questions before entering into any agreement.

The table below shows our proposition:

Become or Staying Fully Authorised Become an Appointed Representative of an Independent Network - ITC Become or stay an Appointed Representative of a Product Provider Become an Introducer Appointed Representative of a Product Provider
Ability to negotiate rates and terms from across the market
Have a set fee regardless of the number of policies sold and pay monthly by Direct Debit
Able to choose products of your choice and switch at will
Support with bespoke compliance documentation allowing a choice of products from a variety of suppliers
Dedicated compliance support free from sales conflicts
Ability to sell Tour Operators products when yours do not suit the customer

When looking at these options quite clearly what most people want to know is how much is this going to cost? Whilst we can’t tell you what the other three options will be, we can tell you how we calculate our fees:

Our fee structure is based on three factors:

We charge per site (location where regulated activity is undertaken) £450 per site per year
We charge per person undertaking regulated activity £30 per person per year
We charge a fee for the level of insurance business you estimate to do 1% of your Insurance commission

Subject to a minimum fee of £600 per year (all fees are subject to VAT).
Please note, discounts may apply if you are introduced to ITC via one of our industry partners.

Copyright © ITC Compliance Ltd 2017