TICO wishes to inform all stakeholders that an update to the original Deloitte Study (May 2017) is now available for review. The purpose of this updated study is to provide stakeholders a current analysis of the industry financed Compensation Fund (“Fund”) and the required future targeted balances needed to sustain the Fund. Deloitte’s scope also includes a structural review of the Fund, including an assessment of appropriate future funding methodology and the impact of large and catastrophic losses.

The Fund is one of TICO’s most important consumer protection tools available to consumers.  It provides reimbursement of monies paid to an Ontario registered travel agent for travel services that are not provided due to the bankruptcy or insolvency of an Ontario registrant or an end supplier airline or cruise line, where a reimbursement has not otherwise been provided. As long as the consumer has dealt through a registered Ontario travel retailer, a claim may be filed against the Compensation Fund for the non-provision of travel services.

This updated study is integral to the recommendations TICO has made to the Ministry, Government and Consumer Services related to the regulatory reform underway. Stakeholders are encouraged to review the original Deloitte study for further background.

To access the Deloitte Studyclick here

Richard Smart
President & CEO