United Kingdom, (PressExposure) September 15, 2008 -- In light of the large number of airlines collapsing this year International Passenger Protection Limited has launched the first online holiday financial failure protection website http://www.protectmyholiday.com where anyone booking their holiday can purchase a simply online financial protection policy from Tuesday next week.
With this year already topping some 24 airlines that have financially failed including carriers such as MaxJet, Eos and SilverJet, Nationwide and more recently Zoom and XL Airways the travel industry has been facing its worse losses in aviation history. With oil prices reaching record highs and the world credit crunch effecting banks and preventing them from financial supporting airlines, many more are expected to fail in the forthcoming months.
Consumer protection has always been unclear in this respect and many of us take for granted that we are automatically covered. The fact is if you book a holiday independent of a package and a growing number of people are, you could face a lack of financial protection for the elements of your holiday going bust such as the airline. There is a form of perception that paying for your holiday by credit card will fully protect you but you are usually only covered for transactions over Â£100 and if your stranded abroad, credit card companies do not cover repatriation costs which are always far more expensive than the original return ticket.
From 26th May this year the travel industry has to inform a customer under the Unfair Commercial Practices Directive (UCPD) if any part of their holiday is not financially protected.
In light of the increased Airline collapses, International Passenger Protection Ltd, who operates their financial failure products globally in over 30 countries have launched the first online consumer protection website allowing the public as from Tuesday next week to protect their holiday with one simple online insurance policy. For peace of mind consumers can purchase a low cost insurance to cover the financial failure of an end suppliers such as Airlines,
FOR TRAVEL TRADE The website also allows the travel industry to link to the website as an affiliate agency making it easy for their clients to make a choice about financial protection of their holiday.