Travel Insurance Provider Goes Bankrupt
Thursday, June 5th, 2008
Nowadays, airlines keep struggling because of the competition. Ever now and then we hear airlines reorting poor profits because of high labor costs, high cost of gasoline, renewed threats of terrorism. One after another, we hear of airlines going bankrupt.
9/11 had caused the need of travel insurance more and more. There are many travel insurance companies that offer good, reliable coverage, and this includes trip cancellation and emergency medical. Have you wondered what would happen if you schedule your trip several months away, and during the interim your supplier of travel insurance declared bankruptcy? You may be covered, you may not, depending on the type of travel insurance you have.
As an example, a good number of travel insurance companies have already blacklisted airlines who have expressed their financial troubles publicly. So it is important to check if your airlines will cover travel insurance polciy while you are traveling.
