Understanding Risk in Adventure Tourism

The business of providing adventure activities to tourists is a contentious issue when it comes to securing risk transfer via short term insurance. The reasons are as complex as this niche tourism sector is diverse. The most important risk that operators need to transfer by means of insurance is liability, which can be defined as; the state of being legally obliged and responsible. In a legal sense, all operators have a ‘duty of responsible care’ to their clients, which implies that they must take every possible precaution to ensure the safety and well being of those for whom they are caring…

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Policy Wording, Gaps, and Exclusions

Having an insurance claim declined just when you need it most could cripple your business. Here are some pointers to avoid being left in the lurch.

Non-disclosure is a policy clause that all insurers can use to decline a claim. Check with your broker before undertaking any risk that you may be unsure of. If it’s not covered, you may find that the insurer will accept the additional risk at a very small premium increase if at all.

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Putting Bums in Beds with Barter

We all know that advertising builds brands and generates new business leads, but when marketing budgets shrink and cash-flow dries up, we need to find practical solutions to retain top-of-mind awareness. What better way to do this than to trade one’s excess inventory. There are few travel and tourism service providers who can claim to be running at full capacity throughout the year. Unsold bed-nights, empty seats in restaurants and on tour coaches are very much like perishable products in the FMCG sector – if you don’t sell them by the expiry date, they’re gone forever.

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