A new insurance scheme for rail tickets has been launched by the Association of Train Operators (ATOC) to travel agents. The programme offers an alternative to bonds and has been launched with the Guild of Travel Management Companies (GTMC) and Advantage Travel Centres. It is named ‘Trael Agents Reserve Insurance Fund (TARIF) and agents can gain membership by paying a levy into the fun, which is used to pay credit insurance. David Mapp, Commercial Director for ATOC said 150 agents had signed up for the scheme. ATOC-licensed TMCs are now required to provide financial guarantee against settlement default.