In light of the large number of airlines collapsing International Passenger Protection Limited recently launched the first online holiday financial failure protection website www.protectmyholiday.com where anyone booking their holiday can purchase a simply online financial protection policy.
Last year there were some 30 airlines failures including carriers such as MaxJet, Eos, SilverJet, Nationwide, Zoom and XL Airways resulting in the travel industry facing its worse losses in aviation history and passengers stranded overseas.
During 2008 oil prices reaching record highs and the world credit crunch effecting banks and preventing them from financially supporting airlines, many more are expected to fail during 2009.
Consumer protection has always been unclear in this respect and many of us take for granted that we are automatically covered. The fact is if you book a holiday independent of a package and a growing number of people are, you could face a lack of financial protection for the elements of your holiday going bust such as the airline.
There is a form of perception that paying for your holiday by credit card will fully protect you but you are usually only covered for transactions over £100 and if your stranded abroad, credit card companies do not cover repatriation costs which are always far more expensive than the original return ticket.
The travel industry has to inform a customer under the Unfair Commercial Practices Directive (UCPD) if any part of their holiday is not financially protected.
In light of the increased Airline collapses, International Passenger Protection Ltd, who operates their financial failure products globally in over 30 countries have launched the first online consumer protection website allowing the public to protect their holiday with one simple online insurance policy.
For peace of mind consumers can purchase a low cost insurance to cover the financial failure of all end suppliers such as Airlines.
www.protectmyholiday.com is administered by International Passenger Protection Ltd (IPP). IPP is an underwriting agency specialising in financial failure insurance within the travel industry. IPP was formed in May 1990 by its founder and Managing Director, Brian McLean, who had previously 25 years experience in the travel industry. IPP is a family run business with his son Paul Mclean with 14 years previous experience in the Insurance industry.
Today, more than a decade later, IPP has become the world-wide market leader in providing financial failure products to the travel industry and has the support of some of the largest insurance groups in the world. IPP operates in over 30 countries around the world as the largest provider of financial failure / credit insurance type products.
In addition to finding alternatives to the travel industry’s own financial protection requirements, IPP with its long standing experience, provides the public with financial protection on many aspects of the modern holiday which are not normally fully protected today.
www.protectmyholiday.com is the first website of its kind to allow consumers to buy financial failure protection insurance for component parts of their holiday booked in the UK. These include Scheduled airlines, Hotels, Car ferries, Villas abroad & cottages in the UK, Railway journeys (including the Eurostar), Coach journeys, Cruises not bonded, Car hire, Caravan sites / Campsites / Mobile Homes, Camper Rental, Safaris, Excursions, Euro Tunnel and Theme Parks such as Disneyland Paris.
With the economic downturn and soaring oil prices over 30 airlines went bust in 2008. For The One Show, Dom Littlewood looked at protecting yourself from getting stranded abroad – watch his film about airline failure insurance.
SEE BBC VIDEO HERE
FOR TRAVEL TRADE
The website also allows the travel industry to link to the website as an affiliate agent making it easy for their clients to make a choice about financial protection of their holiday
www.protectmyholiday.com
Paul Mclean
Director
International Passenger Protection Limited
Posted under Travel & Holiday
This post is a Blogger on March 5, 2009
