Travel Agency Liability Insurance
Comply with your obligations as set out in Article 17 of the Tourism and Hospitality Law, ensuring legal requirements are met in the most advantageous and convenient manner.
Liability insurance is a crucial requirement for travel agencies to meet the obligations specified in Article 17 of the Law on Tourism and Hospitality in Montenegro. This type of insurance protects both clients and the travel agency against possible financial losses arising from failure to deliver agreed services or other liabilities. We will assist you in obtaining your agency’s insurance in a simple and cost-effective manner, ensuring full compliance with all legal norms.
What Does Travel Agency Liability Insurance Cover?
Travel agency liability insurance provides protection against a variety of risks related to the arrangement of travel, such as:
Failure to Fulfill Contractual Obligations
Insurance covers financial losses arising from the agency’s inability to deliver services as agreed, or from organizational errors and omissions*.
Third Party Liability
Provides coverage for claims made by third parties such as tourists, or business partners for damages resulting from the actions or *negligence of the travel agency.
Legal Expenses
Includes coverage for legal expenses incurred in the event of lawsuits or legal disputes.
Legal Requirement and Role of Liability Insurance
Under Article 17 of the Law on Tourism and Hospitality, travel agencies in Montenegro must have liability insurance. This coverage is designed* to protect clients if contracted services are not delivered, and to shield the agency from financial losses. By maintaining adequate liability insurance, agencies reinforce their commitment to high professional standards and enhance their reputation for reliability among clients.
Benefits of Liability Insurance for Travel Agencies
Protecting Financial Stability
By having liability insurance, agencies can protect their financial health and avoid large expenses if a compensation claim arises.
Reputation Management
Agencies that carry robust insurance coverage are perceived as reliable and professional, which can be a key factor in attracting and keeping clients.
Secure Business Operation
When agencies know that potential risks are insured, they can run their business with less concern and more assurance, enabling them to concentrate on expanding and improving their operations.
How Can Bromar Help?
Step by Step Policy Review
Bromar utilizes its broad expertise in the insurance market to assess various insurance proposals and find the best solutions that fulfill regulatory requirements and match your agency’s specific needs.
Custom Policy Design
Understanding that each travel agency has its own distinct needs, Bromar works with you to customize your* insurance policy, ensuring thorough protection for every area of your business.
Ongoing Expert Support
Our team of experts provides continuous support and advice, ensuring your insurance coverage stays current with regulatory updates and meets the highest industry standards.
