"Financial insolvency" means that an individual or an organization is unable to pay their debts or fulfill their financial obligations. This usually suggests a situation where income or assets are not enough to cover the debts or expenses.
Sentences with «financial insolvency»
This new option is important because traditional travel insurance plans typically cover cancellations for a list of reasons, including traveler or family member accident / illness, and travel supplier financial insolvency. (prweb.com)
** In order to receive that coverage for financial insolvency, the travel insurance plan needs to be purchased prior to or within 24 hours of final trip payment. (generalitravelinsurance.com)
Trip Cancellation or Interruption resulting from Financial Insolvency of an airline, cruise line or tour operator (when optional Trip Cancellation / Interruption is included) * (travelsafe.com)