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United Kingdom Thomas Cook Bankruptcy

Thomas Cook Bankruptcy – Provider Position Statements

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Squaremouth’s travel insurance providers give their official position statements explaining coverage for the bankruptcy of tour operator Thomas Cook, which occurred on September 23, 2019.

iTravelInsured

On Monday, September 23rd, Thomas Cook Airlines announced the cancellation of all flights due to bankruptcy. The aviation authority launched a website where customers can find details on these flights. With several travelers concerned about their upcoming planned travel, due to the Thomas Cook declaration of bankruptcy, International Medical Group (IMG) wanted to provide some clarifications pertaining to the iTravelInsured plans as your plan may provide coverage for some benefits if travelers’ plans are affected by this event.

Per the policy wording, Trip Cancellation or Trip Interruption coverage may be triggered. One of the covered reasons for both of these coverages in many of our plans, is the bankruptcy or default of an airline, cruise line, tour operator, or other travel provider (other than the Travel Supplier, tour operator or travel agency, organization or firm from whom You purchased Your Travel Arrangements causing a complete cessation of travel services occurs more than fourteen (14) days following Your Effective Date. This covered reason is only applicable if your coverage was in effect for 14 days or more as of September 23rd, 2019. Your plan also must have been purchased within 21 days of the date that your initial deposit was received as well.

Other benefits may also provide coverage if your plans are affected during your trip. Please refer to your plan documents and official policy wording for complete terms and conditions for coverage as definitions may vary by plan and state. You may also call IMG at +1 (317) 655-4500 for additional questions.

Insurance benefits contained within the iTravelInsured plans described above are underwritten by the United States Fire Insurance Company. C&F and Crum & Forster are registered trademarks of United State Fire Insurance Company. The Crum & Forster group of companies is rated A (Excellent) by AM Best Company 2018.

Travelex

Thomas Cook, a 178-year-old British travel company and airline, declared bankruptcy early this morning, suspending operations and leaving hundreds of thousands of tourists stranded around the world. This is now a known Financial Default event and policies would need to have been purchased prior to 9.23.19 for coverage to apply. Berkshire Hathaway has confirmed the foreseeability date is 9.23.19 and will adjudicate claims accordingly.

TravelInsured International

On Monday, September 23rd, Thomas Cook Airlines announced the cancellation of all flights due to bankruptcy. The aviation authority launched a website where customers can find details on these flights. With several travelers concerned about their upcoming planned travel, Travel Insured clarifies what exactly could be covered with its travel protection plans.

Which coverage could apply if my flight is cancelled?

Trip Cancellation or Trip Interruption coverage could come into effect. One of the covered reasons for both of these coverages in many of Travel Insured’s plans, including the multi-state Worldwide Trip Protector and Worldwide Trip Protector Plus plans, is the bankruptcy or default of an airline. This covered reason is only applicable if your coverage was in effect for 14 days or more as of September 23rd, 2019. Your plan also must have been purchased within 21 days of the date that your initial deposit was received as well.

Change Fee: If your plan contains coverage for Trip Cancellation or Trip Interruption due to the bankruptcy or default of an airline, please note that in many plans, including the multi-state Worldwide Trip Protector and Worldwide Trip Protector Plus plans, full Trip Cancellation/ Trip Interruption benefits cannot be paid if alternate transportation is available. If alternate transportation is available, benefits will be limited to the change fee charged to allow you to transfer to another airline in order to get to your intended destination.

If your plan does not include coverage for Trip Cancellation or Trip Interruption due to the bankruptcy or default of an airline, your plan, such as the Worldwide Trip Protector Lite plan, may still include a stand alone Change Fee coverage. This coverage could apply if you are already on your trip and need to change your connecting or returning flight, since coverage for this benefit does not begin until departure.

Please refer to your actual plan document for the specific terms and conditions of the specific plan purchased as eligibility for coverage varies based upon the specific plan terms, conditions and limitations, and may vary by state or may not be available in all.