That was the context of our TTG debate last week, which saw regulation experts come together to thrash out what they perceive to be the best possible future for financial protection in the UK travel industry.

They all agreed that travel companies paying in to some sort of fund remains the best way to look after customers’ money. But insisted the current system, whereby travel bookings are protected by methods ranging from Atol licensees and accredited bodies to Abta depending on the type of holiday, makes it unreasonably complicated for the consumer.

Instead, they called for one single system of regulation, even if there are different iterations beneath an umbrella brand. But is the CAA the best-placed body to deliver it?

When I helped Advantage do some research into teenagers’ attitudes towards travel earlier this year, it revealed that even 13-year-olds recognise the Atol logo and understand they should look for it.

And believe it or not, when the CAA participated in our travel agent roadshows some years ago, using a toy plane, car and house to demonstrate what constitutes a package, it was often agents’ favourite session of the evening.

The good work the CAA has done so far, on both raising consumer awareness and informing the trade, suggests that it is well placed to deliver a single, simpler, industry-wide protection scheme.

But while other badges exist, and other schemes are able to purport to offer proper protection, confusion will remain.

What everybody does agree on is that reform needs to take place.

But with only days before the DFT’s consultation period on exactly how the UK implements the EU’s Package Travel Directive in the coming years, the trade needs to move quickly to be sure of having its say.

DfT consultation will run until midnight Nov 24. Email atolconsultation@dft.gsi.gov.uk