Passenger Protection Insurance
This Policy is issued by Evolution Insurance Company Limited which is registered in Gibraltar No. 88737 with a registered office at 5/5 Crutchett’s Ramp, Gibraltar, GX11 1AA.
Evolution Insurance Company Limited is authorised and regulated by the Financial Services Commission in Gibraltar and authorised and subject to limited regulation by the Financial Conduct Authority (FCA) in the UK. Details about the extent of our authorisation and regulation by the FCA are available from us on request.
What is covered
Given that our policy does not fall under the category of travel insurance, we highly recommend that you seek out an insurance provider that offers comprehensive travel insurance coverage.
The Insurer agrees to indemnify the Lead Name(s) and/or Passenger(s) as named on the Policyholder’s Booking Confirmation, subject to the terms conditions and exclusions of this Policy, against their Net Ascertained Financial Loss sustained or incurred for bookings made during the Period of Insurance (regardless of date of travel) arising solely from the Insolvency of the Policyholder.
In the event of the Curtailment of the Travel Arrangements for the Lead Name(s) and/or Passenger(s), as named on the Policyholder’s Booking Confirmation, requiring travel to the original contracted destination or point of departure the Insurer will pay any reasonable and necessary additional costs incurred by the Lead Name(s) and/or Passenger(s), as named on the Policyholder’s Booking Confirmation. In respect of the same or similar standard of transportation as enjoyed prior to the Curtailment of the Travel Arrangements up to the amount of the cost of the Travel Arrangements so booked or the Sum Insured, whichever is the lower amount.
Merchant Services Endorsement
In the event that a Merchant Services Provider incurs any chargebacks as a result of the Insolvency of the Policyholder during the Period of Insurance, the Insurer agrees to indemnify a Merchant Services Provider in respect of such chargebacks provided that any claim for indemnity is notified to the Insurer during the Period of Insurance. The Insurer agrees that the relevant Card Scheme's decision regarding the validity and value of any such chargeback will be final and binding and Merchant Services Provider will not be obliged to investigate or defend the validity and/or value of any chargeback.
What is not covered
The Insurer shall not be liable in respect of any loss directly or indirectly caused by, consequent upon, contributed to, or resulting from any of the following:
1. Actual or threatened war invasion acts of foreign enemies’ hostilities or warlike operations (whether war be declared or not) civil war rebellion revolution insurrection civil commotion assuming the proportions of or amounting to an uprising military or usurped power martial law confiscation or nationalisation or requisition or destruction of or damage to property by or under the order of any Government or public or local authority.
2. Any loss, which at the time of the happening of such loss, is insured or guaranteed by or would, but for the existence of this Policy, be insured or guaranteed by any other existing policy, policies or bond except in respect of any excess beyond the amount that would have been payable under such other policy, policies or bond had this Policy not been effected.
3. Any loss sustained by the Lead Name(s) or any Passenger(s) or any other person where the Booking Confirmation or evidence of coverage was effected after the date of the Insolvency of the Policyholder.
4. Any Cyber Loss sustained by the Lead Name(s) or any Passenger(s) or any other person.
5. Any knowledge or information of matter, fact or circumstance known by the Policyholder at the inception of this Policy which was likely to give rise to a loss hereunder.
6. Company Voluntary Arrangement (CVA) where the company has not ceased trading.
7. Any claims under the Merchant Services Endorsement which are notified to the Insurer after the expiry of this Policy.
How much we will pay
The Insurer shall not be liable for more than the Sum Insured stated in the Certificate of Insurance.
The most the Insurer will pay in total for all claims covered in the Period of Insurance is the aggregate Sum Insured stated in the Certificate of Insurance.
Conditions
1. Notice of Insolvency on Bookings
The Policyholder must issue with each Booking Confirmation an instruction to follow in the event of the Policyholder’s Insolvency.
2. Loss Mitigation
This Policy shall only indemnify Lead Name(s) and/or Passenger(s) up to the Sum Insured if the loss sustained by the Lead Name(s) and/or Passenger(s) is not recoverable from a third party after the Lead Name(s) and/or Passenger(s) have taken all legal means available to them to seek a recovery, including all reasonable steps to mitigate their loss, applying for repayment of monies under any rights they may have under section 75 of the Consumer Credit Act 1974 or under any other rights they may have to initiate a chargeback or refund or otherwise seek repayment of monies under any applicable Card Scheme Rules (whether in respect of a virtual credit card or otherwise).
3. Fraudulent claims by Lead Names and/or Passengers
If the Lead Name(s) and/or any Passenger makes a claim knowing the same to be false or fraudulent, the Insurer has the right to terminate the Policy in respect of the Lead Name(s) or the Passenger who made the fraudulent claim from the date of the fraud by giving notice to the Policyholder. If the Insurer elects to terminate the Policy, all claims in respect of the Lead Name(s) or the Passenger(s) made after the date of the fraud and all premiums paid hereunder shall be forfeited. The Policy will continue in force for all other Lead Name(s) and/or Passenger(s).
4. Passenger Forecast and Premium
The Policyholder’s premium has been calculated from the information submitted by the Policyholder on the application which included the Policyholder’s Passenger forecast to be covered under the Policy.
Should forecast Passenger numbers for any period be underestimated and that shortfall be more than 15% then the Insurer reserves the right to re-rate the Policy, charge additional premium and to require as a condition of ongoing cover a holding premium deposit reserve (or increase in such reserve if one is already held).
5. Premium Payment & Declarations
The Policyholder shall submit declarations to the Insurer in the format required by the Insurer on a monthly basis. The declaration for each month shall be submitted within seven days after the end of the month (for example, the declaration for the month of January shall be due by the 7th February).
Declaration procedures must be strictly adhered to, failure to do so may result in the withdrawal or cancellation of this Policy by the Insurer with no premium refund.
If the premium agreed is subject to adjustment, at the end of each period specified in the Certificate of Insurance or otherwise agreed with the Policyholder, the Policyholder shall declare to the Insurer or their agent such particulars for premium adjustment and pay any additional premium due. The Policyholder will maintain and keep records necessary to enable the premium to be adjusted on the basis agreed by the Insurer and the Policyholder shall at all reasonable times permit the Insurer or their agent's representatives to examine and verify such records if requested.
At the end of each adjustment period agreed and also at the expiry of this Policy the Policyholder shall declare to the Insurer such particulars for premium adjustment and pay any additional premium due.
6. Data Protection
The Insurer is the controller of the personal data provided in relation to this Policy. The Insurer is registered with the Gibraltar Regulatory Authority (GRA) as a data controller and is listed on the Register of Data Controllers under registration number DP003699. The Insurer’s full Privacy Notice is available at www.evo-insurance.com/privacy.
7. Governing Law
The construction, validity and performance of this Policy shall be governed by the Laws of England and Wales unless otherwise agreed by the Insurer.
Please Note: ‘Passenger Protection Insurance’ does not refund any payments in the events of customer cancellation. Holidays deposits are non-refundable and any customer cancellations made within 42 days prior to scheduled departure date are also non-refundable. Passenger Protection Insurance only protects your money against company insolvency. This is NOT Travel Insurance and will not cover any monies paid in the event of customer cancellation. We strongly advise you take out separate Travel cover as soon as possible after booking in case any problems arise resulting in you being unable to travel with us. Please see our Coach Holiday Terms & Conditions for full details of our cancellation policy.