TAAI working on insurance product that will protect travel agents

The Travel Agents Association of India (TAAI) has been working on creating a product that will help protect agents. Jay Bhatia, Vice President, TAAI, says, “Yes, the TAAI team has already worked on the options as to how an insurance cover/deposit/ financial security to protect agents/customers from airline defaults, suspension, bankruptcy, non-depositing of statutory taxes like TDS, etc can be charged on the ticket or submitted by the airlines/IATA or otherwise.

An insurance charge/levy on the ticket, if worked on, shall be a win-win for the airlines and agents, whereby agents’ financial security will also not be required and their working capital shall also be enhanced,” he says, adding that this will create a better working environment and a level-playing field.