The National Eco-Tour Operators Co-operative (NETO Co-op) is urging tour operators on the island of Grand Bahama to purchase liability insurance as projects like Carnival’s Celebration Key come on stream.
NETO Co-op President and Chairman, H. Rudy Sawyer told ZNS News, “the insurance is expensive. This is a certainly has been a barrier to small operators getting their tours or excursions from being even considered by the cruise lines to be sold on their ships. The National Eco-Tour Operators Co-operative Limited, formed in 2016, as a limited liability co-operative business structure has solved this problem.”
Members of the NETO Co-op pay 60% to 75% less for insurance than if they were to purchase individually. Membership in the group has grown from ten to approximately forty two.
NETO Co-op Secretary, Keith Cooper said, “the numbers just started to escalate once the Disney Cruise Line came into Eleuthera. We saw that as as immediate need and they jumped right on us to say we want to work with you and that really helped the organization grow within the nation. So we see this going on throughout The Bahamas where islands are becoming now more of a cruise destination. As that materializes NETO will become even more important.”
According to NETO Co-op President they are not prepared to cover high risk businesses such as jet ski operations to ensure that insurance premiums are kept low. “So unfortunately for those who are doing jet skis or they’re doing a zip line or parachuting or scuba diving they will not be covered under our insurance.”
The organization is eager to expand into the fishing, boating and tour guides communities. Membership in NETO Co-op is open to businesses earning less than $300,000 per year.
