Financial Failure Insurance



Rush Insurance Services Limited, Barham Court, Teston, Kent, ME18 5BZ who are authorized and regulated by the Financial Conduct Authority registration number 503666.


Affirma, a trading brand of MGA Cover Services Limited, registered address; 135 High Street, Crawley, England, RH10 1DQ, company registration 08444204. MGA Cover Services Limited is authorised and regulated by the Financial Conduct Authority (registration number 4043759) and underwrites this Policy on behalf of: Evolution Insurance Company Limited. Registered in Gibraltar No. 88737 with a registered office at 5/5 Crutchett’s Ramp, Gibraltar, GX11 1AA.

Evolution Insurance Company Limited is licensed by the Financial Services Commission in Gibraltar under the Financial Services (Insurance Companies) Act to carry on insurance business 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.

This Policy is subject to the law and jurisdiction of England and Wales.


Product: Financial Failure Cover for Tour Operators and/or Organisers Insurer(s): Evolution Insurance Company Limited Policy Number: EVO/FFI/0015 2018 Policyholder: Chillisauce Limited Period of Insurance: 00.00hrs 1st May 2018 to 23.59hrs 30th November 2018 GMT. Sum Insured: Up to and not exceeding £600 for any one Passenger.


These definitions apply to the entire Policy wherever these words or phrases appear starting with an upper-case letter and printed in bold except where otherwise stated.

Booking Confirmation:

A written confirmation and/or deposit receipt detailing travel arrangements under theLead Name(s), and issued by thePolicyholder

Card Scheme:

Visa, Mastercard, American Express or other equivalent card scheme provider


Abandoning or cutting short travel arrangements that have been the subject of aBooking Confirmation

Cyber Act:

An unauthorised or malicious act, a series of related unauthorized or malicious acts, regardless of time and place, or the threat or hoax thereof including access to, processing of, use of or operation of any computer, hardware, software, information technology and communications system or electronic device including any similar system or any configuration of the aforementioned and including any associated input, output or data storage device, networking equipment or booking facility

Cyber Loss:

Any loss, damage, liability, claim, cost or expense directly or indirectly caused by or contributed to by, resulting from, arising out of or in connection with anyCyber Act


a) A petition has been presented to the Court for the compulsory winding up of thePolicyholder(other than a voluntary winding up solely for the purpose of amalgamation or reconstruction while solvent).
b) ThePolicyholderconvenes a meeting of its Creditors informally or otherwise for the purpose of considering an arrangement with such Creditors pursuant to the provisions of Section 899 of the Companies Act 2006 (or otherwise) or any statutory modification or re-enactment hereof.
c) A receiver is appointed over any of the property or assets of thePolicyholderwhether under Part III of the Insolvency Act 1986 or otherwise. d) ThePolicyholderis unable to pay its debts as defined in section 123 of the Insolvency Act 1986 or ceases to carry on its business as a result of being unable to pay its debts as they fall due.


Evolution Insurance Company Limited

Lead Name(s):

The person(s) having made a payment to thePolicyholderunder, or with a view to entering into, a travel contract with thePolicyholderfor the provision of accommodation and/or carriage of that person(s) and who is specifically named in the Booking Confirmation

Merchant Services Provider:

A person providing thePolicyholderwith the ability to accept debit and credit card payments for goods and services.

Net Ascertained Financial Loss:

a) Loss of Deposit(s) or charge(s) paid by the Lead Name(s) and/or thePassenger(s)to thePolicyholder
b) Additional costs reasonably and necessarily incurred following curtailment of the travel arrangements to enable theLead Name(s)and/orPassenger(s)to:
i) continue with and complete the scheduled journey or travel arrangements. The Policy indemnity in respect of accommodation is limited to the additional cost incurred by theLead Name(s)and/orPassenger(s)in securing such accommodation of the same or similar standard as enjoyed prior to the curtailment of the travel arrangements.
ii) return to the original contracted point of departure in the European Union, thisPolicyindemnity is limited to the additional cost incurred by theLead Name(s)and/orPassenger(s)in respect of the same or similar standard of transportation as enjoyed prior to the curtailment of the travel arrangements.


Any natural person travelling or due to travel as part of travel arrangements booked by aLead Name

Period of Insurance:

As stated in theSchedule


This document, theScheduleand any addendums attached hereon


The section of thePolicyentitled ‘Policy Schedule’ which states the particulars of this insurance.

Sum Insured:

As defined in theScheduleand not exceeding GBP 300,000 in the aggregate.


Any word or expression to which a specific meaning has been attached in any part of thisPolicyshall bear such specific meaning wherever it may appear. In consideration of thePolicyholderpaying the agreed Premium, the Insurer agrees to indemnify theLead Name(s)and/orPassenger(s)subject to the terms conditions and exclusions of thisPolicyagainst theirNet Ascertained Financial Losssustained or incurred for bookings made during thePeriod of Insurance(regardless of date of travel) arising solely from the Insolvency of thePolicyholder.


TheInsurer’sliability shall in no case exceed theSum Insuredstated in theSchedule. For the avoidance of doubt in the event of theCurtailmentof the travel arrangements for theLead Name(s)and/orPassenger(s)requiring travel to the original contracted destination or point of departure theInsurerwill pay any reasonable and necessary additional costs incurred by theLead Name(s)and/orPassenger(s)in respect of the same or similar standard of transportation as enjoyed prior to theCurtailmentof the travel arrangements up to the amount of the cost of the travel arrangements so booked or theSum Insured, whichever is the lower amount.


It is warranted by thePolicyholderthat at inception of thisPolicythePolicyholderhas no knowledge or information of matter, fact or circumstance which is likely to give rise to a loss hereunder.


TheInsurershall 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. Civil commotion assuming the proportions of or amounting to a popular rising, riot, strikes, lockouts, martial law or the act of any lawfully constituted authority.
  3. Any loss, which at the time of the happening of such loss, is insured or guaranteed by or would, but for the existence of thePolicy, 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.
  4. Any loss sustained by theLead Name(s)or anyPassenger(s)or any other person where theBooking Confirmationor evidence of coverage was effected after the date of the Insolvency of thePolicyholder.
  5. Any loss sustained by the Lead Name(s) or any Passenger(s) where the point of departure stated on theBooking Confirmationis outside the European Union.
  6. AnyCyber Losssustained by theLead Name(s)or anyPassenger(s)or any other person.
Merchant Services Endorsement:

In the event that aMerchant Service Providerincurs any chargebacks as a result of the Insolvency of thePolicyholder, theInsureragrees to indemnify aMerchant Service Providerin respect of such chargebacks. TheInsureragrees that the relevantCard Scheme'sdecision regarding the validity and value of any such chargeback will be final and binding andMerchant Service Providerwill not be obliged to investigate or defend the validity and/or value of any chargeback. ThisPolicyis only intended to recompenseLead Name(s)for actual money lost following the Insolvency of thePolicyholder.

  1. If theLead Name(s)and/or anyPassengermakes a claim knowing the same to be false or fraudulent, theInsurerhas the right to terminate thePolicyin respect of theLead Name(s)or the *Passengerwho made the fraudulent claim from the date of the fraud by giving notice to thePolicyholder. If the Insurer elects to terminate thePolicy, all claims in respect of theLead Name(s)or thePassenger(s) made after the date of the fraud and all premiums paid hereunder shall be forfeited. For the avoidance of doubt, thePolicywill continue in force for all otherLeadName(s)and/orPassenger(s).

  2. In the event of any happening likely to give rise to a claim theLead Name(s)and/orPassenger(s)shall:
    a) give immediate notification (but in no event later than 14 days) to the Claims Department;
    b) prove the loss to the reasonable satisfaction of the Insurer;
    c) assist in the assessment of any claim under thisPolicyby producing for inspection all accounts and documents and giving all information and explanations which are reasonably necessary to establish and assess indemnity hereunder.

  3. At the end of each period (‘Declaration Frequency’) specified in theScheduleand at the expiry of thisPolicy, thePolicyholdershall declare to theInsurersuch particulars for premium adjustment and pay any additional premium due. If the premium in theScheduleis subject to adjustment, thePolicyholdershall permit the Insurer’s representatives to examine and verify thePolicyholder'srecords to assess the adjusted premium.

  4. The Insurer shall be entitled to take over and conduct in the name of thePolicyholderor theLead Name(s)and/orPassenger(s)but at its own expense, the defence of any claim or to prosecute for its own benefit, any claim for indemnity or damages.


Any claim should be notified in accordance with the terms of thisPolicyto theInsurerwithin 14 days by email toclaims@affirmainsurance.comand/or telephone on: 020 3540 4422. In order to deal promptly with any claim hereunder it is essential that theLead Name(s)and/orPassengersretain all bills, receipts and other documents relating to the travel arrangements.


Written confirmation of the cancellation of thisPolicymay be given at any time by thePolicyholder or by the Insurer. TheInsurerwill give thePolicyholder a minimum of 14 days’ notice of cancellation to enable the Policy holder to find alternative cover. ThePolicyholder may cancel thisPolicyin writing to the Insurer with a copy to Affirma.


Affirma and the Insurer gather and process personal data in accordance with the EU General Data Protection Regulation (GDPR) and any relevant data protection legislation. Personal data may be used by Affirma, the Insurer or third parties for underwriting and claims purposes and in order to administer the policy. Affirma and the Insurer will ensure that personal data is kept secure, is used only for the purpose for which it was supplied and is retained only for as long as necessary.


If you have a complaint about the service that either we or another party connected with thisPolicyhas provided then please write to us or the other party concerned as the case may be explaining that and either we or the other party as the case may be will do their best to resolve your complaint.

If you have any complaint about the way in which thisPolicywas sold, please contact whoever arranged the insurance for you.

If your complaint is about the way thisPolicyis administered, please write to us atMGA Cover Services Ltd, Kemp House, 152 City Road, London EC1V 2NX.

If the complaint is about our service you will be contacted within 5 days of receiving your complaint to inform you about what action is being taken.

If the complaint is about theInsurerwe will immediately forward your complaint to the Insurer and they will also contact you within 5 days of receiving your complaint to inform you about what action is being taken.

If it will take longer than4 weeksto respond then you will be told in either case when you can expect an answer.

If you have not been given an answer within 8 weeks you will be told how to take your complaint to theFinancial Ombudsman Servicefor review. This complaints procedure does not affect any legal rights that you have to take action.

Once you have received your final response and if you still not satisfied you can contact theFinancial Ombudsman Service: Financial Ombudsman Service Exchange Tower Harbour Exchange Square, London E14 9SR

You can visit theFinancial Ombudsman Servicewebsite 0800 023 4567 (calls to this number are free from mobile phones and landlines) or 0300 123 9123 (calls to this number cost no more than calls to numbers beginning with 01 or 02) 31st August 2018.