Travellers who have paid up for tour packages to travel agents that later go bust cannot hope for compensation.
Malaysian Association of Tour and Travel Agents (Matta) president Ngiam Foon said local insurance companies could not offer this type of insurance called financial guarantee because it was a Bank Negara directive.
“This means there would be no recourse for travellers caught in such a situation,” he said.
Ngiam was commenting on the recent case of a group of 20 travellers who lost their money when their European tour package was cancelled on the day they were to leave as the travel agency had gone bust.
“There is professional liability insurance that most of our members have and that covers negligence by the agent but not for financial collapse,” Ngiam said.
Many callers alerted The Star yesterday saying that they also faced the same problem with the tour agency.
In confirming receiving police reports on the case, Dang Wangi OCPD Asst Comm Zulkarnain Abdul Rahman said initial investigations had been completed and handed over to the Bukit Aman Commercial Crime Department.
Source : STAR
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