Sky's and Escape's cruises cancelled

[Okmyx]

This type of insurance is very expensive. I work for an electric utility and we had storm insurance that covered losses over $25 million. After a few years, we decided to self insure as the premiums were so costly.

 

 

 

Of course it's expensive! But it's insurance...and I'd be surprised if NCL didn't have it. And if they don't have it, then they've, like your experience, decided to self-insure because they would have found it less expensive than buying insurance. Either way, this type of weather impact on their business is expected and accounted for in their budget. So while they might be out of pocket if they self-insured, don't for a minute think they didn't know what they "bought" by self-insuring, assuming they don't actually have insurance. Either way, I don't think we need to be sympathetic for NCL.

 

It also appears that they didn't make their offer until the State of Florida ordered evacuations and a state of emergency, and Irma was classified as a category 5...either of which might be sufficient for an insurance policy to kick in and provide benefits, and which may be why their offer is objectively good. It seems RCL didn't offer as much last week (I'm not completely sure about this) and perhaps they didn't have insurance. I don't know.

 

Anyway, I'm glad NCL is providing good customer service during this storm.

 

 

 

Sent from my iPad using Tapatalk

[PugsRuleATL]

Soo, future cruise credits.... anyone have experience with them or know how they work? Do you get a future credit valued at 50% of what you paid for the cancelled cruise or is it more like a 50% discount on the value of a future cruise? I'm guessing it's based on what was paid for the cancelled cruise but either way I'm not complaining.

 

 

 

For me this was just a quick weekend getaway with friends on a local booze cruise. I was even planning on working until the last minute on Friday before the cruise and then Monday morning when I got back. I'm actually happy they cancelled the cruise since I was worried about being away from home during a potential hurricane. Anything NCL gives me is greatly appreciated.

 

 

 

 

 

 

 

 

 

 

 

This happened to us on Princess, because of Hurricane Sandy.

 

Assuming the same theory is true across lines, we were issued a letter to authorize the credit, and it was for 50% of the cruise fare - not 50% of what we paid. We had the letter within a few days, and our travel agent could see the credit on our Princess Captain’s Circle Account when we called her to inquire.

 

What I mean by that is, for example, the cruise fare may be $400 and the taxes/fees may be $150 - just as examples. In this case the credit would be $200, which is 50% of the fare, not $275, which is 50% of the total paid.

 

If I were betting and planning, I’d only bet and plan on 50% if the actual fare that was paid, not the total paid.

 

Then again, NCL could do this entirely differently. :-)

 

 

Sent from my iPhone using Forums

 

 

 

[Run14]

Of course it's expensive! But it's insurance...and I'd be surprised if NCL didn't have it. And if they don't have it, then they've, like your experience, decided to self-insure because they would have found it less expensive than buying insurance. Either way, this type of weather impact on their business is expected and accounted for in their budget. So while they might be out of pocket if they self-insured, don't for a minute think they didn't know what they "bought" by self-insuring, assuming they don't actually have insurance. Either way, I don't think we need to be sympathetic for NCL.

 

It also appears that they didn't make their offer until the State of Florida ordered evacuations and a state of emergency, and Irma was classified as a category 5...either of which might be sufficient for an insurance policy to kick in and provide benefits, and which may be why their offer is objectively good. It seems RCL didn't offer as much last week (I'm not completely sure about this) and perhaps they didn't have insurance. I don't know.

 

Anyway, I'm glad NCL is providing good customer service during this storm.

Sent from my iPad using Tapatalk

 

NCL Has a number of insurance policies through a large number of insurers, including Lloyd's. The stock took a pretty big hit today which was reflective of the amount of money they are expected to pay out of pocket for all this (think the deductible part) and the likely increase in insurance premium in coming years. Oh, and a healthy dose of emotion - there was a lot of that in the market too. If anyone is interested, I'm sure some analysts will publish their estimates in the coming days.

I couldn't speak to many specifics in those policies, but declarations of emergencies seem to me to a pretty obvious triggering event - I totally agree with what you wrote. Cat 4/5 levels could be involved, but government mandates are pretty cut and dry and therefor an easy gauge.

Huge kudos to NCL - I'm impressed by how they are handling this.