Hollard Travel Insurance and Bryte Travel Insurance have confirmed that SAA is excluded from their travel supplier insolvency benefit, effective earlier this month.
Travel Insurance Consultants (TIC) announced on Wednesday it would exclude SAA from its Travel Supplier Insolvency benefit, effective November 28.
Uriah Jansen, md of Oojah Travel Protection, which administers Hollard Travel Insurance, told TNW that it was a known fact that SAA was in financial trouble and that it could no longer pay salaries in full and that the risk was therefore too great for the company to provide insolvency insurance for the carrier. Clients who purchased insurance policies prior to the SAA strike announcement on November 15 will still be covered but policies issued after this date will not include insolvency cover if SAA defaults, says Uriah.
Hollard still provides Cancellation Cover For Any Reason, which means if clients purchase their insurance policy within 24 hours of ticket purchase they will still be covered for 50% of their financial loss (within the limit of the policy benefit) should SAA declare insolvency.
Head of Travel for Bryte Travel Insurance, Anrieth Symon, confirmed that Bryte did not cover SAA flights under its insolvency of travel supplier or travel wholesaler’s benefit. Bryte travel policies purchased prior to November 12 would not be affected, says Anrieth.
