Viking Financial Services Ltd, the entity responsible for managing travel protection for Viking, has taken legal action against Arch Insurance Group in the Circuit Court of Jackson County, MO. The lawsuit stems from Arch’s failure to fulfill its financial obligations during the COVID-19 pandemic.
When the pandemic forced the cancellation of cruises, Viking immediately offered compensation to impacted guests, including refunds for any travel protection premiums collected on canceled cruises. This decision was made with the highest priority given to guest satisfaction. Viking’s expectation was that Arch would provide reimbursement for the travel protection premiums refunded to guests, as Arch no longer faced any travel risk following the cancelations. However, more than three years later, Arch has failed to fulfill its financial obligations.
Ryan Rakower, an attorney at Quinn Emanuel Urquhart & Sullivan, LLP, who is representing Viking in this matter, emphasized the importance of the safety and satisfaction of guests for Viking. He expressed disappointment in Arch’s failure to fulfill its financial obligations, stating that it contradicts the company’s values which are centered around its guests.
Arch’s refusal to refund Viking the unearned travel protection premiums has indirectly resulted in profits for Arch, as Viking made the decision to prioritize guest satisfaction by immediately issuing compensation to guests in the early stages of the pandemic. The impact of Arch’s refusal to meet its financial obligations has resulted in Viking issuing compensation for travel protection premiums in excess of $3 million. Despite the disappointment in Arch’s inaction, Viking remains committed to its guests and employees.
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Viking has stated that the lawsuit does not impact its ongoing operations and that it will continue to prioritize the well-being of its guests and employees. The company expects the same level of commitment from its partners, including Arch. In addition, Trip Mate, Viking’s insurance partner, has joined Viking Financial Services Ltd in the lawsuit against Arch Insurance Group.
In addition to the legal action taken by Viking, there have been developments in the cruise industry that are worth considering. For instance, Regent has launched a content co-branding solution for travel advisors, a move that could potentially reshape the landscape of marketing and sales in the industry. Another noteworthy development is the introduction of the new Seabourn Pursuit, which travel advisors had the opportunity to tour and were briefed by executives. Meanwhile, The Ritz-Carlton Yacht Collection has floated out its second vessel, Ilma, signaling expansion within the luxury cruise market. Seabourn has also made headlines with the announcement of a new culinary experience called Solis, demonstrating the ongoing innovation and evolution of the cruise industry.
As Viking Financial Services Ltd continues to pursue legal action against Arch Insurance Group, it remains committed to upholding its values and ensuring the satisfaction and safety of its guests and employees. The outcome of this lawsuit could have significant implications for the travel protection industry and may set a precedent for how financial obligations are met during times of crisis.
