Thousands of customers without financial protection out of pocket following the collapse of Flyglobespan

Following the recent announcement that Flyglobespan, Scotland’s biggest airline, went into administration – leaving over 3,000 people stranded abroad without cover and a further 100,000 potential claimants – Peter Hayman, Director at Travel Insurance Specialist, P J Hayman, says:

“The failure of Flyglobespan is very unfortunate – especially at the height of the festive season. This news will be a severe blow not only to those who are stranded but also those who have travel plans over the holidays and their family and friends who they are visiting.

“Much like the XL Leisure Group failure last year, some elements of Globespan bookings were unprotected. As a consequence, people with bookings have to resort to claiming back on their credit card, where applicable, or travel insurance where cover has been extended to cover such failures.

“Those with cover that have Financial Failure cover (such as BONDPLUS automatically included with 24/7 ‘premier’ policies) are protected against this type of eventuality. Unfortunately, this collapse, coupled with the impending industrial action at BA makes it a difficult time for many UK travellers and it is therefore all the more imperative that people have sufficient travel insurance cover in place”.

Travel insurance is a must!
When buying your travel insurance, don’t assume that every policy is the same. Your needs may be different from others, so make sure the policy you buy provides the cover that you require. Read the small print, check the level of cover and ensure you are covered for any activities that you want to undertake. Carry your travel insurance documentation with you whilst abroad and keep the 24-hour emergency medical assistance number on you at all times along with your policy number. Call us for an instant 24/7 travel insurance quote, for just £7.33* 24/7 travel insurance will cover you for a 3-day trip to Europe including Financial Failure Protection!

*Premium £7.33 includes Insurance Premium Tax; based on an individual traveller aged under 55 taking out a ‘Premier’ single-trip policy for 3 days in Europe excluding personal possessions cover and purchased within 14 days of departure date. Cover details and prices are correct at time of going to press (December 2009) and are subject to change.