In response to numerous calls from customers since the start of the business week of September 15 regarding the crisis facing major financial industry companies, including AIG, Travel Insured International makes the following statement:
Travel Insured International advises both our loyal sales partners and their clients, and prospective new customers, that our travel protection business is completely independent from the business of major companies, including AIG, that are involved in the current crisis dominating the financial industry. At Travel Insured, our business and our people are solely dedicated to protecting the prepaid travel bookings of our customers and serving the business interests of our loyal travel industry partners. We are involved in no other businesses. Our strong partnerships do not include any with prominent companies that have been working to acquire needed capital in the face of looming financial industry deadlines.
Travel Insured International offers comprehensive coverage underwritten by the Arch Insurance Company, which is rated A (“Excellent”) by A.M. Best. Arch Insurance Company (a Missouri corporation, NAIC # 11150) had admitted assets of $1.5 billion, total liabilities of $962.7 million and surplus to policyholders of $569.6 million, as shown in the most recent 2008 Quarterly Statement. Arch Insurance Company is a subsidiary of Arch Capital Group Ltd., a Bermuda-based company with approximately $4.3 billion in capital at June 30, 2008 which provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries.