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Global Default Insurance

Service provided by Logo Euler Hermes , a company of Logo Allianz

What is Global Default Insurance?

Key features

Exclusive product

A bespoke product for IATA Accredited Travel Agents

Fast quote

Fast and online application process

Easy documentation

The product and documentation is easy to understand

No collateral

No collateral is required

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Get deeper understanding about our Global Default Insurance product
The Approved Limit will remain in place for 12 months from the date it is issued by the Insurer unless the Travel Agent receives written notice from the Insurer that the Approved Limit has been cancelled or reduced. In either case, to enable the Travel Agent to arrange alternative security (such cancellation or reduction), this will only take effect 90 days from the date that the Travel Agent receives the written notice.Where the Approved Limit is cancelled within the 12 months, the Travel Agent shall be entitled to a pro rata refund of the annual fee.
IATA has selected Euler Hermes, the world's leading provider of credit insurance services, who underwrite the GDI policy for IATA. Euler Hermes is part of the Allianz Group and is rated AA- by Standard & Poor’s and Dagong Europe.
Euler Hermes will respond to the Travel Agent informing them if they are eligible to join the GDI program and, if so, the cost. If the Travel Agent decides to join, it notifies Euler Hermes through IATA's appointed broker.
It is a quick, efficient, hassle-free alternative to other types of financial security such as bank guarantees and bonds. The Travel Agent pays one annual GDI fee based on their financial security requirement.
IATA works with the leading Global Brokers. Please contact IATA.GDI@aon.com for questions and further information.
Either by entering their details in the application section of this website (above), or by contacting AON, IATA's appointed broker via IATA.GDI@aon.com. Travel Agents apply for a limit equal to their financial security requirement stipulated by IATA
Euler Hermes will issue the Travel Agent with a document specifying the approved limit of cover and this document qualifies as financial security for the IATA accreditation process.
Annual GDI Fee will be invoiced and collected by IATA.