That's not quite true. Read the FAQ's on their site. For scheduled service they recommend travel insurance and paying with a credit card.
If you're referring to
Once again I know nothing but Monarch via First Aviation is bonded . So your flight tickets are secure.
then its perfectly true. If you read the wording again on Monarchs website you will see it's clearly out of date. It mentions charter flights, which they no longer operate. All flights are scheduled and are via First Aviation and come with an Atol certifcate. Charter and Avro no longer come into it.