| Click here to read this newsletter in your web browser and view our Travel News Archive |
Insure2Travel Newsletter |
Airlines on brink – Airline Failure cover now essential |
By Jon Elias, Operations Manager
With Cyprus Turkish Airlines (KTHY) facing bankruptcy this month, this could well be the first of several airlines failing this year and next. The combination of the global economic crisis and volcanic ash problems will prove too much for many airlines resulting in consumers losing their money unless covered for Airline Failure.
Here is the latest position of the airlines:
|
 |
British Airways – on the 21st of May it was reported that BA had lost £531m in the 12 months to March
Air France KLM – Announced a record loss of £1.33 billion for 2009/2010, the figure is double the previous year’s loss
Ghana International Airlines – have shut down operations. Workers have been asked to go home until further notice.
Easyjet – Announced a 31.4% improvement for first half ended 31 March with a £58.9m loss compared with a £85.9m for the same period 12 months ago.
Air Canada – reported a first-quarter net loss of $82.7m
Republic Airways – reports a $36.3m first-quarter loss
Aer Lingus – reports a e36.2m loss this is down from the previous year’s deficit of e67.9
Lufthansa – reports a first-quarter loss of e298m this is up from e267m deficit a year ago
ANA – reported a net loss of $616m for the financial year |
 |
NEW insure2travel - End Supplier, Dynamic Packaging and Airline Failure Cover |
New £5,000 Airline Failure, Dynamic Packaging & End Supplier Failure Cover
Insure2travel now has the UK’s most comprehensive cover for End Supplier Failure, Airline Failure and Dynamic Packaging. This cover has become very important in the last few months but currently only 1 in 6 policyholders in the UK are covered. There was a possibility that a government levy would mitigate the necessity for this cover but that has not materialised and consequently we have included this as standard. This cover provides you a powerful advantage over competitors and a very strong sales point. |
 |
Here is an example of what the new cover means:
Any travel arrangements including flights, accommodation, coach travel, car hire and even excursions booked separately in the UK are covered if one or even all become insolvent.
Purchasing from for example the Post Office (or any other insurance that doesn’t provide the above cover) wouldn’t cover the travel arrangements, and all money paid is lost. |
|
Cover & Terms Enhancements update |
The following are some of the product and service enhancements added in the last few months
- NEW - End Supplier/Dynamic Packaging & Airline Failure cover
- Single trip now 90 days max duration up from 62. That means you can cover someone aged over 75 for 90 days.
- Pregnancy - all limits and restrictions removed i.e. if acceptable by the airline they are covered
|
 |
- Flight delay cover extended to now cover Return flight delay
- One way trips all covered
- Issue cover whilst your client is in-flight or even later, via email & text
- AR Network introduction scheme – Introduce business and earn 25% commission per policy sale!
- NB children on Annual policies can travel independently (on their own) this was not made clear in the policy wording and we will be amending the wording ASAP to make this clear
- Family children now all free, that means family children and addition children travelling with family are all free (previously max of 4 free)
|
|
Cuba demand travel insurance – it’s now compulsory! |
The Government of Cuba decided last February 16, that all travellers, foreign and Cubans living abroad, coming to the island from May 1, 2010 and thereafter shall show a travel insurance policy that includes sufficient medical expenses cover.
As all insure2travel policies have £5,000,000 per person medical expenses cover and an acceptable Insurer, this will ensure no problems. |
 |
|
Watch Out! Credit card travel insurance exposed – only 6 of 40 cards provide reasonable cover, others leave people exposed to massive costs! |
Insure2travel has produced the industry's latest survey showing which credit cards cover what. If you don’t have one please let us know and we will email and post hard copies to you.
The survey exposes just how dangerous it can be, to assume credit card cover is sufficient as, the vast majority do not cover the most essential elements such as Medical Expenses. |
 |
| Several cards have now removed travel insurance cover altogether. Of 40 cards only 6 of them provide reasonable cover with 34 missing the most important elements such as Medical Expenses, most worrying is the way the cards are promoted with such phrases as Travel Accident Cover, giving consumers the impression they have Medical Expenses when they don’t! |
|
Airline food rip-off
Holidaymakers have been warned that they face sky-high prices for food on board budget airlines.
The biggest mark-ups were on items such as crisps, shortbread and muffins, with Jaffa Cakes suffering from a 556 per cent mark-up, muffins 736 per cent, and short bread biscuit costing ten times its retail price on one airline. |
 |
|
Many thanks from insure2travel for all your support
Yours sincerely
Simon Parsons
Managing Director
insure2travel
Email: info@insure2travel.co.uk
Web: www.insure2travel.co.uk
Direct Dial: 029 2078 3016
Switchboard: 029 2066 8686
Fax: 02920 666686
24 Hour Sales Support: 07866 765436
|
Address: Morgan House, 248 Cowbridge Road East, Canton, Cardiff, CF5 1GZ
Offices also in Bath and Bristol
www.themorgangroup.co.uk
Morgans Ltd is authorised and regulated by the Financial Services Authority. Registration number 309466. A member of Morgan Financial Group Ltd. insure2travel, Travel Insurance Plus & insure2let are trading names of Morgan Brokers Ltd. Regent Investment Advisors Ltd and Queen Square Financial Services Ltd are appointed representatives of Morgans Ltd. Digital Orange, Morgan Peterson, Morgan Pullen, Noble Johnson and The Medical Partnership are trading names of Morgans Ltd.
Information contained in this e-mail is intended for the use of the addressee only, is confidential. Any dissemination, distribution, copying or use of this communication without prior permission of the addressee is strictly prohibited. The contents of an attachment to this e-mail may contain software viruses, which could damage your own computer system. While Morgans has taken every reasonable precaution to minimise this risk, we cannot accept liability for any damage, which you sustain as a result of software viruses. You should carry out your own virus checks before opening any attachment. |
