ProtectMyHoliday.com, the leading financial protection website for travellers is successfully meeting the gap in cover recently exposed in the vast majority of travel insurance policies.
Independent rating agency Defacto found recently found that 77% of travel insurance products do not provide financial protection leaving millions of travellers exposed to airline, and other end supplier, insolvency during this continued period of economic uncertainty.
Although the CAA arrange the effective ATOL protection, it only applies to bookings where a flight plus another part of the trip are booked with the same operator (where applicable ATOL protection is clearly stated on the booking confirmation).
This leaves huge groups of travellers unprotected against bankruptcy and insolvency such as:
• Independent travellers
• Travellers using other modes of transport other than aeroplanes
• People staying with relatives
• Business trips
Help is at hand though through the innovative website ProtectMyHoliday.com, which allows travellers to individually tailor financial protection for their trip, including (but not limited to) airlines, hotels, car hire and even theme parks.
‘With over 75 airlines collapsing since the start of the recession plus continued record losses in the airline and travel sectors it is vitally important those travelling outside of ATOL protection get peace of mind against collapses’, explained Michael Ward, Key Account Manager at International Passenger Protection Ltd.