Official position statements from Squaremouth’s travel insurance providers on the Grecian economic crisis.
Posted: July 9, 2015
APRIL Travel Protection
APRIL Travel Protection policies do not insure for bankruptcy or the financial default of a governmental entity. APRIL covers bankruptcy and default of travel suppliers only, provided the policy was purchased within a certain number of days of the initial trip payment, and that the default occurs more than a certain number of days following the effective date.
The financial crisis currently impacting Greece is not a covered event under Trip Cancellation, Trip Interruption or any other APRIL policy triggers covers, except Cancellation for any Reason (CFAR). In this instance, CFAR claims would still be subject to the purchase and other timing conditions.
Transportation benefits will be limited to airline change fees to transfer to another airline in order to get to policyholders’ intended destination. Coverage may also be available under Trip Delay if the policyholder’s itinerary is delayed. All claims will be examined and adjusted based on their individual merits on a case-by-case basis.
Many travelers are asking questions about the economic uncertainty in Greece. If you’ve purchased a MH Ross plan, cancellations or interruptions due to financial default of a travel supplier or unannounced labor strike delaying a common carrier may be covered, so long as the as the plan includes the coverage and the requirements are
met. Please refer to your plan documents for details, or contact Global Alert with any questions, agents are happy to help 24 hours per day.
The economic crisis in Greece has many travelers concerned about visiting the popular tourist destination.
Unfortunately, the current situation does not fall under any of the covered events within Tin Leg’s Trip Cancellation or Trip Interruption benefits.
However, if a traveler’s tour operator or travel supplier becomes financially insolvent, or if there is an airline strike related to the crisis, Trip Cancellation and Interruption benefits can become available.
In order to be eligible for the financial default benefit, the Tin Leg policy must be purchased within 14 days of the initial trip deposit and the financial default must occur more than 14 days following the policy’s effective date.
Travelers who have booked a trip to Greece within the past 14 days are also eligible for the Cancel for Any Reason upgrade. This benefit allows travelers to cancel their trip for reasons that aren’t covered under standard Trip Cancellation coverage, including those who no longer wish to visit Greece.
In order to be eligible for Cancel For Any Reason, travelers must meet the following criteria:
- Purchase their policy within 14 days of their initial trip deposit
- Insure 100% of their trip cost
Tin Leg also requires the trip be cancelled at least 72 hours prior to the scheduled departure, and reimburses up to 75% of the prepaid and nonrefundable trip cost.
Coverage may also be available under Travel Delay if the customer’s itinerary is delayed.
In any event, all claims will be examined and adjusted based on their individual merits on a case-by-case basis. Please contact Tin Leg with any questions at 844-240-1233, we are delighted to answer any additional questions.
Many travelers are asking questions about the economic uncertainty in Greece. If you’ve purchased a TravelSafe plan, cancellations or interruptions due to financial default of a travel supplier or unannounced labor strike delaying a common carrier may be covered, so long as the as the plan includes the coverage and the requirements are met. Please refer to your plan documents for details, or contact TravelSafe with any questions, agents are happy to help 24 hours per day.
The following travel insurance providers have not released an official position statement on the Grecian economic crisis as of July 9th 2015.
Air Ambulance Card
AXA Assistance USA
Azimuth Risk Solutions, LLC
CSA Travel Protection
HCC Medical insurance Services
HTH Travel Insurance
John Hancock Insurance Agency, Inc.
Protect Your Bubble
Travel Insured International
Travelex Insurance Services
USA-ASSIST Worldwide Protection