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quote:Travel insurance provider Travel Guard announced that effective April 16, its policies will no longer include default coverage for Oceania Cruises. To see Travel Guard's complete list of suppliers not covered for financial default, go to www.travelguard.com/news/alert.asp.
If you're interested, see here for their free dvd/vhs promo's.
I ordered my dvd almost 2 weeks ago,..hopefully it will be here soon.
[ 04-21-2004: Message edited by: RobHolland ]
My inside sources tell me that they are doing quite well at this time.....they have an excellent management team..
Del Rio: blood boiling over Travel Guard alert21/4/2004Travel Guard International said it has suspended financial default insurance for Oceania Cruises because of an administrative decision. ‘We have no information or knowledge that would lead us to believe that Oceania is not a good and reputable company and is not financially stable,’ Travel Guard spokesman Dan McGinnity told Seatrade Insider. ‘This is an administrative decision based on procedures we’ve had since 1985. We hope this can be resolved quickly.’
Travel Guard -- America’s largest travel insurer -- will continue to issue policies for customers cruising with Oceania but will not provide default insurance ‘at this time,’ McGinnity said. He described Travel Guard’s alert list as ‘fluid and dynamic.’
Oceania president and ceo Frank Del Rio said his blood is boiling over reports from travel agents that Travel Guard staff told them the cruise operator is in trouble. ‘We were hit by this on Monday when a travel agent called. [Travel Guard] provided no notice,’ Del Rio said.
‘Oceania is stronger than ever with our second ship in the water,’ he told Seatrade Insider. ‘We will post a $14m to $16m profit in 2004. Our cash position is strong. I believe we escrow more than other cruise operators. We’re in full compliance with FMC requirements. I hope [Travel Guard] removes this alert, which is totally unwarranted.’
McGinnity dismissed as ‘absolutely false’ reports that Travel Guard representatives told agents Oceania is financially shaky. He said staff are authorized to say only: ‘At this time, our policies no longer cover financial default for the following travel suppliers ...’
According to McGinnity, Travel Guard made ‘multiple requests for [financial] information over a period of time’ from Oceania and when it received no response, it put the line on its alert list, effective April 16. McGinnity declined to specify when the requests were sent.
Del Rio maintains he never received Travel Guard’s letters. When Oceania yesterday asked for copies, they were provided two unsigned sheets dated Jan. 17, 2003 and March 16, 2003 -- the latter date was corrected by the insurer to 2004, Del Rio said. Oceania yesterday supplied the insurer with evidence of FMC compliance. ‘We are now in the process of providing additional information, such as agreements with credit card companies,’ Del Rio said.
The Federal Maritime Commission confirmed that Oceania meets surety requirements for Regatta, the only of its two vessels that has sailed from the US.
Looks like it may have been either inefficiency or arrogance on the part of the line?
quote:Originally posted by Globaliser:Thanks, Willem!Looks like it may have been either inefficiency or arrogance on the part of the line?
Looks more to great arrogance of Travel Guard.
Regards,
Willem
quote:Travel Guard Reverses Oceania DecisionA Travel Guard Insurance representative has confirmed that Travel Guard has removed Oceania Cruises from its list of suppliers for which Travel Guard policies do not cover financial default. This decision reverses Travel Guard's announcement earlier this week that it would no longer provide default coverage for Oceania.
A Travel Guard Insurance representative has confirmed that Travel Guard has removed Oceania Cruises from its list of suppliers for which Travel Guard policies do not cover financial default. This decision reverses Travel Guard's announcement earlier this week that it would no longer provide default coverage for Oceania.
--Tim
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