On 05OCT 2023, the Travel Industry Council of Ontario (TICO) unveiled recommendations to revamp its funding framework. TICO says the proposals offer a balanced approach to meet the needs of both consumers and the industry.
TICO is also launching a consultation period that will “better align with its consumer protection mandate."
After an extensive review of the Compensation Fund, TICO states "The proposal we're sharing today reflects TICO's commitment to develop a fair and modern funding model that reflects cost recovery, delivers value to stakeholders during this time of industry renewal, and continues to keep consumer protection at the forefront".
Noteworthy Points:
- Most registrants will experience a slight adjustment in their total fees to TICO.
- 35% of registrants will benefit from decreased fees, including renewal and Compensation Fund payments.
- On average, registrants will see a 6% increase in total fees to TICO, based on past sales in Ontario.
Five key proposals.
Compensation Fund:
- Decrease Compensation Fund payments to $0.05/$1,000 from $0.25/$1,000 of Ontario Gross Sales.
- Remove non-contributing end-supplier coverage (airlines and cruise lines) from the Compensation Fund, subject to government consideration and decision-making.
- Double the maximum Compensation Fund payment per person to $10,000 from $5,000 for consumers, subject to government consideration and decision-making.
Registration Renewal Fees:
- Recalibrate registrant renewal fees with modernized and more equitable fee bands.
Other:
- Institute new late filing fees to encourage timely submission of required documentation and ensure efficient processing.
Proposals #1, #4, and #5 have an anticipated implementation date of 01APR 2024.
Proposals #2 and #3 are subject to government consideration and decision-making and are not within TICO’s authority to implement at this time. TICO may need to reassess its fees in the future if these proposals are not implemented.
Feedback
TICO invites registrants and stakeholders to actively participate in the consultation process:
- Share feedback via an online survey by 10NOV 2023.
- Join a virtual or in-person focus group. Sessions are scheduled throughout OCT and early NOV in multiple locations, including Mississauga, Ottawa, and Waterloo. Virtual sessions are also organized for broader participation.
Key Dates:
- 05OCT 2023: Proposal announcement and the start of the consultation period.
- 10NOV 2023: End of the consultation period.
- 01APR 2024: Targeted implementation date for specific proposed changes.
As Open Jaw reported, TICO hosted its Annual General Meeting (AGM) on 26SEP. During this meeting, a technical error with the voting platform led to some users experiencing timeouts during the Industry Director vote. This limited their ability to cast votes for two Directors.
To ensure the integrity of the vote, TICO decided not to proceed with the industry director voting results.
The re-launch of the voting process took place on 04OCT, with the following two-step procedure: Registration on the voting platform from 04OCT to 06OCT, and an online vote will be conducted between 10OCT and 11OCT.
More information can be found on TICO's website.
