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International Passenger Protection Limited (IPP UK) was formed in May 1990 by its Chairman & CEO, Brian McLean, who had previously 25 years' experience in the travel industry and his son Paul Mclean joined IPP in 2000 with today over 34 years Insurance experience and the company's Managing Director.
Following research for a number of years, the primary objective for forming the company was to find a solution to the out-dated method of bonds and guarantees, which had prevailed in the travel industry for some time.
In addition to finding alternatives to bonding, the aim of the company was to fill the gap in consumer protection, whilst at the same time finding solutions to the travel industry's own problems related to the demise of airlines, hotels and the various other parts of a passenger's itinerary.
IPP has become the world-wide market leader in providing financial failure products to the travel industry and with over 30 years experience has the backing of some of the largest insurance groups in the world.
The IPP dedicated team concentrates purely on financial failure products for the travel industry, the largest industry in the world, and ensures a mutual understanding of its needs. All the products are offered in a simple format and are generally rated on a per-capita basis, making the calculation of premiums much easier. IPP is a young and vibrant company that operates in over 45 countries world-wide. IPP's high standards of service, together with a greater flexibility towards customer needs, ensures that IPP retains its place as market-leader in these products and services.
Never have products offered by IPP been more sought after since events such as September 11th, Gulf Wars, SARS, the world credit crunch, air space effect by Volcanic Ash and more recently Covid-19 which all have put great financial strains on the travel industry. The market awareness of these products is now at its highest for both the consumer and principal alike. The consumer wants protection for every travel product that he buys from his local travel agent. Principals, travel agents and tour operators also wish to be afforded the same protection against the failure of the same travel components.
In 2020 IPP UK formed International Passenger Protection (Malta) Ltd (IPP Malta), opening an office in Malta in order to comply with Brexit requirement from 2021
Security
IPP Malta is 100% wholly owned by IPP UK and authorised and regulated by the MFSA, Malta.
The most important element of the cover offered by IPP on its products is the security backing it. Therefore, IPP ensures that all of its products are backed by major insurers and reinsurers rated S&P A and above. The net worth of IPP's insurance and re-insurance panel exceeds Euro 100 billion consisting of some of the largest re-insurance and credit insurance groups in the world. Such security ensures IPP's ability to meet capacity requirements and long term continuity for all its clients.
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