Lloyd's managing agent Euclidian has launched a crisis management product for the travel industry.
Euclidian Tour Operators Division said it recognised the need to expand its product, following discussions with clients.
The crisis management package covers the potentially high costs associated with a crisis, such as press conferences, specialist advice, 24-hour emergency service and travel and subsistence costs.
There have been a number of major crises involving tour operators in the past few years, including the Yemen massacre in 1998, the Swiss canyoning disaster of 1999 and the South African coach crash of 1999, which cost £250,000 for PR, lawyers and counsellors.
Euclidian underwriter Gary Armstrong said: "We had discussions with various insureds and felt there was a gap in the market. Tour operators felt they were exposed to disasters which could ruin their businesses.
"It was a coincidence that this product was launched just after the September 11 crisis."
Euclidian's tour operators division has been trading since 1998 and has more than 1,000 policyholders. The range of products on offer include public liability, professional indemnity, employers' liability and emergency assistance.
The company counts the Association of Independent Tour Operators (AITO) and dozens of small to medium-sized operators among its clients.
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