AA Travel Insurance incorporates bankruptcy into policies

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AA Travel Insurance incorporates bankruptcy into policies

AA Travel Insurance has introduced protection into its insurance policies that accounts for travel agents or airlines going bankrupt in the current financial climate, it has revealed.

The firm's travel insurance policy now includes financial failure holiday protection that offers customers up to £5,000 per person should travel agents or accommodation firms they have booked with fold amid the current recession.

All of its single-trip policies purchased via the telephone or online now include the protection, the firm highlighted.

Chief executive officer of AA Travel Insurance Christian Young said: "Many travellers believe they are fully protected when taking a holiday, either through their insurance, credit card or travel compensation schemes, but the truth is that cover is often incomplete."

One travel firm that fell victim to the recession and called in the administrators last autumn was the airline XL, the collapse of which left thousands of travellers stranded abroad.

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