Cookson Adventures, the global leader in ultra-luxury experiential travel, has pioneered a unique insurance product to cater to the demand of the world’s most successful people. The luxury travel market is expanding rapidly, and more HNW clients are looking for an experience that also makes a positive contribution to researhc on climate change, animal or plant species preservation etc.
Delivering intricately sophisticated expeditions to the world’s most remote locations, Cookson specialises in world first experiences that challenge the boundaries of travel. Guests are invited to broaden their horizons and challenge what they believe is possible in the world of travel, with adventures often comprising a high level of logistical complexity. On a recent trip, two superyachts, two helicopters and a submersible, alongside a team of eight scientists, were woven into a family holiday that resulted in the discovery of a new species of killer whale. (Now that’s a `What I did on My Holidays’ essay right there – Ed)
As such, over the ten years that Cookson has been arranging such high value trips, it has developed a clear picture of the need for an insurance product that covers rarely considered eventualities. The brand’s requirements have gone far beyond the remit of existing travel insurance products on the market today.
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Working with Cork Bays & Fisher, a division of Vantage Insurance Services, which has provided the UK Travel Industry with insurance solutions for over 35 years, has enabled Cookson Adventures to develop a bespoke insurance product. This allows it to plan extraordinary adventures for its clients, providing them with the peace of mind that they are fully covered.
The innovative product includes cancellation or significant disruption due to the failure of a major component of the trip, including the impact of force majeure events such as storms, other adverse weather conditions and natural disasters, which are usually excluded. The first product of its kind to benefit from the backing of Lloyds underwriters, it covers specifically and uniquely the knock-on effect of a failure of the high-value assets that are associated with such trips. Unique to the market – although similar policies have previously been used to insure large stadium rock concerts – each policy is delivered bespoke to the client, much like the rest of the experience.
Adam Sebba, CEO of Cookson Adventures, said “As a company that designs unique products, we know the importance of innovation, especially in the ever-moving travel market. Insurance is one of those essential elements of risk mitigation that every good company should always think about, always looking to map their operations and identify potential gaps.
As our trips have increasingly pushed more boundaries and become bigger and more daring over the years, our insurance needs have similarly evolved. However, when we went to the market, we realised there was no product available that even came close to matching our requirements. We quickly realised we were going to have to innovate and build our own – and that’s exactly what we did.”
Ish Dale, Account Executive of Cork Bays & Fisher / Vantage Insurance Services, added, “The insurance needs of Cookson Adventures go above and beyond the normal boundaries of the travel market, such is the complexity of their expeditions. We have therefore worked hard with Cookson to develop a unique and innovative product that covers every eventuality. This allows the company to continue leading the field in delivering world first experiences that challenge the boundaries of travel and allows guests to travel worry-free and focus on getting the most from their experiences.”