Like many Americans, I have no problem being outraged at the outrageous AIG bonuses. As a travel agent, the harder issue is whether or not to sell Travel Guard Insurance, an AIG subsidiary.
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Posts tagged as:
AIG
First, before I get a lot of angry comments about this post, I want to say that I believe the folks at AIG and other companies acted unconscionably in planning expensive retreats after accepting taxpayer bailout money. But it’s hard to watch others suffer for their sins.
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When Angela Gross buys a ticket through Frontier Airlines’ Web site, it tacks on an extra $10.95 for travel insurance. How did it manage to do that? By having a checked box on the booking screen that she had to opt out of. Now Frontier is balking at a refund.
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In an earlier post, we noted some of the effects of the AIG demise on the world of travel. Now, a new page has been turned in AIG’s reach into the travel world — the sale of their surprising 50 percent stake in London City Airport.
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The travel industry became involved in the Wall Street meltdown last week when AIG faced financial catastrophe and ended up on the government bailout list. But the crisis is far from over — especially if you’re a travel agent.
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These last days have been wild on Wall Street. One of the companies front and center in the news has been the insurance giant AIG. The US government has come to its rescue with an $85 billion loan and sucked up 80 percent of its stock as collateral. AIG has significant assets that will have an impact the travel industry. We take a look at them.
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If you have to cancel an expensive trip at the last minute, you’ll be glad you have travel insurance. But what if the insurance is no good? After Wall Street’s recent meltdown, that’s a question worth asking.
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