MINNEAPOLIS, May 4, 2020 /PRNewswire/ — According to a recent report released by the U.S. Travel Association and Oxford Economics, the COVID-19 pandemic will likely cause the travel industry to suffer financial losses nine times worse than 9/11.
Yonder Travel Insurance, a comparison site for travel insurance, has seen a dramatic increase in calls requesting information regarding bankruptcy or financial default coverage as a result. The top two questions being asked are answered below.
If my travel supplier goes bankrupt, will I recoup my trip expenses?
Like all other travel insurance benefits, you must meet the requirements of the travel insurance policy to qualify for coverage. Most travel insurance policies that include bankruptcy, financial default or financial insolvency as a covered event under trip cancellation require the bankruptcy or