Insurer reinstates cover after Thomas Cook bank loan

Northern and Western Insurance Company (NWIC) is writing supplier failure cover again for travel agents dealing with Thomas Cook a week after pulling cover on flight-only and accommodation-only sales.

NWIC reinstated cover because Thomas Cook has arranged a £200m bank loan facility, according to Travel Weekly.

Supplier failure is an insurance for travel agents against the risk of having to compensate their clients on the failure of part of the travel package.

Northern & Western’s decision made travel agents pull business with Thomas Cook.

 

 

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