Bankruptcy or Default of Your Travel Supplier
East Hartford, CT (PRWEB) October 15, 2008
Several airlines and other suppliers have already ceased operations since the start of 2008's difficult economic conditions and more supplier failures can be predicted. Earlier this year bankrupt airlines ceasing operations included MaxJet, which served London from the U.S., Aloha Airlines, serving Hawaii and the western U.S. mainland and ATA Airlines, also serving Hawaii, have all disappeared.
More recently Alitalia Airlines filed for bankruptcy court protection in Italy on Aug. 29, the U.S. railway tour company Grand Luxe Railways ceased operating on Aug. 29, and Sun Country Airlines filed for U.S. bankruptcy court protection on Oct. 7
Travel Insured International's comprehensive Worldwide Trip Protector and Gold travel insurance plans, as well as the Worldwide Trip Protector Lite Expanded insurance plan include "Bankruptcy or Default of Your Travel Supplier" as a covered reason for Trip Interruption or Trip Cancellation insurance. Insurance benefits in the event of a covered bankruptcy or default can include up to 100% of prepaid trip costs for Trip Cancellation under all three plans, up to 150% of prepaid trip costs for a covered Trip Interruption under Worldwide Trip Protector or Worldwide Trip Protector Gold, and up to 100% of prepaid trip costs for a covered Trip Interruption under Worldwide Trip Protector Lite Expanded.
Insurance coverage can apply provided simple conditions of purchase are met.
- The Worldwide Trip Protector travel insurance plan must be purchased within 14 days of the initial deposit for the travel booking.
- The date of the supplier default or bankruptcy must be more than 14 days after the effective date of the Worldwide Trip Protector insurance plan. The plan effective date is the day after the insurance plan is purchased and paid for.
- The coverage does not apply if the default or bankruptcy is by the travel agency or travel supplier that solicited and sold the Worldwide Trip Protector insurance plan to the traveler with the land or sea travel arrangements.
- Your best default / bankruptcy insurance coverage is when purchasing Worldwide Trip Protector insurance from a travel selling partner of Travel Insured that is independent of the cruise, tour or other supplier that provides your travel arrangements and suffers the bankruptcy or default being covered.
You can visit our Travel Insured International web site at http://www.travelinsured.com where you can find more coverage information and join a Live Chat. If you prefer, talk to one of our friendly customer service professionals at 1-800-243-3174.
About Travel Insured International
Travel Insured International, based in E. Hartford, CT, was founded in 1993 by the foresight of insurance industry executive Peter Gehris when he acquired the travel protection division of the Travelers Insurance Company. Coverage is underwritten by Arch Insurance Company (a Missouri corporation, NAIC #11150) with executive offices located in New York, NY. Not all insurance products or coverage is available in all jurisdictions. Coverage is subject to actual policy language.
Travel Insured International
52-S Oakland Ave.
E. Hartford, CT 06128-0568
Contact: John Stone
Media Relations Manager
1-800-243-3174 x 117