In Reply to: ? what ins company covers insolvency posted by nyonya on Tuesday, 18. December 2012 at 21:30 Bali Time:
You are right...not to many people seem worry about it.
Like most things in insurance it is an option with just a few companies
I take a fully comprehensive policy with Covermore and tick the box for air fare etc. insurance e.g. the next trip to Bali airfares $1,500, I covered myself for expenses of $2,000.
When rumours were out about Strategic/Australian Airlines financial problems there was a rush to find a company that would cover insolvency.
In my case I had over $5,000 worth of airline tickets with Strategic/AA and although already insured with another company I also took out insurance with Covermore.
Subsequently due to the rumours Covermore eventually refused to cover clients for insolvency who were flying with Strategic/AA.
The rest is history and Strategic / AA did collapse one month after the completion of our trip.
I have stayed with Covermore ever since.
Hoolz