rbslos18 Posted September 7, 2023 #1 Share Posted September 7, 2023 Would the following situation be covered? During a cruise, a new cruise is booked and the deposit paid to the cruise line. The booking is then transferred to a travel agent. Insurance is purchased immediately. After final payment the cruise company goes bankrupt. Would the travel insurance cover the lost funds? Link to comment Share on other sites More sharing options...
iamtrustworthy Posted September 8, 2023 #2 Share Posted September 8, 2023 On 9/7/2023 at 7:21 AM, rbslos18 said: Would the following situation be covered? During a cruise, a new cruise is booked and the deposit paid to the cruise line. The booking is then transferred to a travel agent. Insurance is purchased immediately. After final payment the cruise company goes bankrupt. Would the travel insurance cover the lost funds? Hi rbslos, It's not a simple answer. It depenids on a plan's definition of Supplier Frinancial Default, if it has a "Time Sensitive" purchase deadline and its waiting period. Some plans require the travel supplier to cease operation, some only require filing a bankruptcy petition, some plans won't pay if the supplier offers travel credits (i.e. - Vantage Travel's new owner). Do you have a specific example? Steve Dasseos Link to comment Share on other sites More sharing options...
rbslos18 Posted September 8, 2023 Author #3 Share Posted September 8, 2023 (edited) 2 hours ago, iamtrustworthy said: Hi rbslos, It's not a simple answer. It depenids on a plan's definition of Supplier Frinancial Default, if it has a "Time Sensitive" purchase deadline and its waiting period. Some plans require the travel supplier to cease operation, some only require filing a bankruptcy petition, some plans won't pay if the supplier offers travel credits (i.e. - Vantage Travel's new owner). Do you have a specific example? Steve Dasseos Steve, I think the question is whether booking a cruise directly with the cruiseline voids the bankruptcy protection even if the booking has been transferred to a travel agency. Edited September 9, 2023 by rbslos18 Link to comment Share on other sites More sharing options...
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