Financial Default

• Cancellation
  • Financial Default

  • Covered after 14 day wait if purchased within 15 days of trip deposit

• What is Financial Default?
  Financial Default can reimburse a traveler’s trip costs if they need to cancel because of a complete suspension of operations by their travel supplier due to financial circumstances, whether or not bankruptcy is filed.

• What am I covered for?
  Benefit will be provided for loss(es) incurred by You for a covered Trip cancelled up to the date and time of departure or interrupted or delayed after the time and date of departure. A maximum benefit of up to the amount indicated in the Schedule of Benefits to cover certain expenses as listed below which result in the cancellation or interruption of Your Trip due to any of the following Unforeseen events:

  Transportation and Accommodation

  a) Financial Default of an airline, Cruise line, Common Carrier or tour operator provided that:

  (1) The insurance was purchased within 15 days of Initial Trip Payment; and

  (2) Financial Default occurs more than 14 days following an Insured’s effective date for the Trip Cancellation or Trip Interruption Benefits.

  The Insurer will not cover Losses resulting from a Financial Default of any person, organization, agency, or firm that solicited Your travel arrangements to you.