Traveleden.com Informs Passengers That Financial Protection Is Available
Traveleden.com, the holiday villas and apartments rental specialists, announce an affiliation with ProtectMyHoliday.com, a consumer website which provides travellers the opportunity to insure themselves against the financial failure of end suppliers.
Online, February 16, 2010 (Newswire.com)
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The decision to join the plan was made in view of over 60 airlines collapsing since the start of the recession and record airline losses being announced in 2009. The recent collapses of Globespans and of Sky Europe demonstrate the fragility of the airline sector and added to this is the General Public's confusion as to what is covered under the CAA's ATOL scheme which only covers package holidays.
Under the FSA regulations, Traveleden.com will not be issuing the policy but merely highlighting that specialist cover is available from companies such as ProtectMyHoliday.com.
Prices start at only £5 per person and policies are provided by the world-wide leaders in supplying financial failure insurances to the travel industry, International Passenger Protection Ltd (www.ipplondon.co.uk). Importantly, security is provided by A rated Insurers (Standard and Poors) with a combined net assets in excess of €100 billion.
The cover protects travellers against the liquidation of un-bonded end suppliers and is a quick, simple and effective method of adding the protection missing from many retail travel insurance products. If the failure occurs prior to travel then the Insurance will refund the lost monies. If the failure occurs during the trip then the insurance covers an equivalent return ticket, which usually costs much more then the original ticket price.
On-line policy issuing takes 5 minutes, and the applicant simply selects the cover they need for their airline, car hire company, excursion providers, etc, until they have all the component end suppliers covered.
INFORMATION
• ProtectMyHoliday.com is a trading name of International Passenger Protection Limited (IPP) formed in 1990.
• IPP is the largest and main supplier of Scheduled Airline Failure Insurance (SAFI) and cover for other parts of the holiday in the UK and world-wide operating in over 30 countries.
• IPP operates as an underwriting agency on behalf of insurers and re-insurers who's combined net worth exceeds Euro 100 Billion