M&S Money urges travellers to put insurance at the top of
their Christmas card list
Released
on: December 10, 2008, 4:25 am
Press
Release Author: Liz Neild
Industry:
Financial
Press
Release Summary: M&S Money has urged people travelling abroad
this Christmas to make sure that they have travel insurance at
the top of the Christmas shopping list
Press
Release Body: M&S Money, the financial services
division of Marks and Spencer, has reported that up to one million
people are planning on visiting friends and family abroad this
festive season. As such, the financial services company is encouraging
those travelling to make sure travel insurance is at the top of
their Christmas shopping list.
M&S
Money has revealed that DIY holidays have become more
popular than traditional package holidays in recent times, increasing
by six million in just five years*, with fewer than half of Christmas
trips abroad booked as complete packages from a travel agent.**
The
rise of independent travel makes insurance even more important,
but further research reveals that 49%*** of consumers don't know
what their travel
insurance covers them for. For example, most policies don't
offer cover for the collapse of an airline, as thousands of people
found to their cost in recent months.
However,
M&S Premier Travel Insurance now includes
independent
traveller cover as part of its annual multi trip policy and
as an optional extra with single trip and standard trip travel
insurance. This means people who book a holiday without using
a tour operator will be covered if their flight is cancelled and
if other parts of their holiday are affected.
Judith
Roberts, M&S Money Insurance Manager, commented:
"For most people, Christmas is all about spending time
with friends and family, even if that means making a trip abroad.
Travel insurance was originally designed for the package holiday
market and we felt that it was time to improve our policy as so
many people now book independently. For example, if your flight
is cancelled you may be unable to claim for subsequent connections
and face the cost of new flights or accommodation. M&S Premier
Travel Insurance is one of only a few policies that covers these
types of situations that are often not included in traditional
policies."
Notes
To Editors:
* Mintel - Holiday Review, Leisure Intelligence, March 2007 -
19 million holidays booked independently in 2002, compared to
26 million in 2006.
** YouGov - 2,002 adults (18+) surveyed online between 14-16 April
2008
*** YouGov - 2,002 adults (18+) surveyed online between 14-16
April 2008
About
M&S Money:
M&S Money (a trading name of Marks and Spencer Financial Services
plc) was founded in 1985 as the financial services division of
Marks and Spencer Group plc. The company is now a top-ten credit
card provider and the second-largest travel money retailer
in the UK. M&S Money also offers a range of insurance cover,
including home
insurance and car
insurance, as well as loans, savings and investment products.
In
November 2004, Marks & Spencer sold M&S Money to HSBC,
one of the world's largest banking and financial services organisations
with over 9,500 offices in 85 countries and territories.
With
a market capitalisation of US$190 billion (as at 7 October 2008),
the HSBC Group is one of the world's largest financial services
organisations. Over 100 million customers worldwide entrust HSBC
with US$1.2 trillion in deposits. With a tier one capital ratio
of 8.8% and a loan to deposit ratio of 90% as at 30 June 2008,
the Group remains one of the most strongly capitalised and liquid
banks in the world.
M&S
Money has an executive committee comprising an equal number of
representatives from HSBC and Marks & Spencer.
The
company employs 1,200 staff at its headquarters in Chester, delivering
personal financial services to its customers, reflecting the core
values of Marks & Spencer - quality, value, service, innovation
and trust.
Web
Site: http://www6.marksandspencer.com/
Contact
Details: PR Contact:
Liz Neild
Marks & Spencer Money
Kings Meadow
Chester
CH99 9FB
01244 686 068
2025
