Which entity manages the Compensation Fund in Ontario?

The Travel Industry Council of Ontario (TICO) is responsible for managing the Compensation Fund in Ontario. This fund is designed to protect consumers by providing financial assistance if a licensed travel agent or wholesaler fails to fulfill their obligations, such as defaulting on travel services that have been paid for. TICO oversees the licensing and regulation of travel retailers and wholesalers in Ontario, ensuring that they comply with the relevant laws and regulations. The existence of the Compensation Fund is part of TICO’s mandate to enhance consumer protection in the travel industry, ensuring that travelers can seek recourse in the event of financial loss due to the failure of a licensed operator. Other entities, while they may play roles in the broader tourism or consumer protection landscape, do not have the specific responsibility for managing the Compensation Fund.