What would happen if?

    Hi all

    Im just wondering, what would happen if you were on holiday and your travel insurance company goes bust whilst your abroad?

    Are you protected by any law or agency etc (such as ATOL for holidays) incase you need help whilst your there?



    The ]Financial Services Compensation Service (FSCS) is a free independent service that protects you if financial companies go bust or are unable to meet your claims.

    You might be entitled to compensation if you've suffered a financial loss as a result of a company going bankrupt – for example, if you've paid in advance for a policy that is now invalid. You will need to switch to a different insurer as soon as possible but the FSCS will cover you in the interim period so that you are not uninsured.

    It depends on what went wrong. If it were serious enough, e.g high medical bills due to an emergency then time is a factor there, so you probably should be seeking Consular help from the British Embassy in that country and make them aware of the Insurance issue.

    On the other hand, if its something non-life threatening like loosing luggage or instances like this then the other reply advice would be the way to go.

    Original Poster

    Ooo thanx for the replies guys. It wouldnt be easy or nice from what youve said. I guess its a case of choosing a company whos most likely NOT to go Kapput lol.

    Thanx again

    All insurance companies are Lloyds backed so the cover would continue for anyone using it at the time, no new cover for people not already away.........we have had this a work this week , don't worry u would be o.k. there is a contingency plan for anyone in need and you wouldn't have to contact the embassy. The insurance co would still help in an emergncy as the numbr you ring is not to the insurance but to the helpline which is manned by an assistance service.
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