OhioJeff Posted September 30, 2008 #1 Share Posted September 30, 2008 http://industry.bnet.com/travel/1000242/aig-credit-crisis-poses-risks-to-carnival/ Link to comment Share on other sites More sharing options...
mamasue Posted September 30, 2008 #2 Share Posted September 30, 2008 DH and I had our trip insured with AIG .. we were just hoping we wouldn't have to use them!!!! Link to comment Share on other sites More sharing options...
spleenstomper Posted September 30, 2008 #3 Share Posted September 30, 2008 What does this mean? Link to comment Share on other sites More sharing options...
VentureMan_2000 Posted September 30, 2008 #4 Share Posted September 30, 2008 What does this mean? It means nothing. Link to comment Share on other sites More sharing options...
LHP Posted September 30, 2008 #5 Share Posted September 30, 2008 It means nothing. Thank you!! Link to comment Share on other sites More sharing options...
gtalum Posted September 30, 2008 #6 Share Posted September 30, 2008 What does this mean? At the absolute worst case it means Carnival might have to cough up $170 million in collateral to keep 3 of their ships from getting repossessed. Link to comment Share on other sites More sharing options...
hbrote Posted September 30, 2008 #7 Share Posted September 30, 2008 Here is some text from Kiplinger. AIG has several different businesses, and only some of them deal with insurance. Those insurance subsidiaries are subject to different rules from the rest of the company. The state insurance departments set strict capital requirements to make sure insurers can pay claims. As a result, those subsidiaries are not suffering from the same financial troubles as other parts of the company. "The insurance subsidiaries are solvent and able to pay their obligations," says Sandy Praeger, president of the National Association of Insurance Commissioners. Hope this help came some fears... Link to comment Share on other sites More sharing options...
Pupsweet Posted September 30, 2008 #8 Share Posted September 30, 2008 I don't think it means anything. We just booked AIG Travel Guard KNOWING about all this. It's not stopping me from what is still the best policy for our needs. I compared to everyone else at insuremytrip.com, and I know why we've used them on every other cruise. They work best for me. Disclaimer: No, I don't work for AIG. :D Hope we won't ever need to find out if it'll work or not! I'm not worried. Link to comment Share on other sites More sharing options...
spleenstomper Posted September 30, 2008 #9 Share Posted September 30, 2008 That's what I was wondering... about the trip insurance. I bought mine through Carnival.... Link to comment Share on other sites More sharing options...
tally10 Posted September 30, 2008 #10 Share Posted September 30, 2008 We have used AIG trip insurance for our last two cruises and the claims have been handled very nicely. Hubby was sick with pneumonia and noro. We took it again for our Oct. 25th Freedom cruise in the mediterranean and hopefully we won't need it. We did see an article explaining why AIG Travelguard is not going to be effected by all of these current problems (thank goodness). Link to comment Share on other sites More sharing options...
BND Posted September 30, 2008 #11 Share Posted September 30, 2008 See this previous thread that I posted info about AIG insurance on. http://boards.cruisecritic.com/showthread.php?t=848142&highlight=aig Link to comment Share on other sites More sharing options...
mamasue Posted September 30, 2008 #12 Share Posted September 30, 2008 I don't think it means anything. We just booked AIG Travel Guard KNOWING about all this. It's not stopping me from what is still the best policy for our needs. I compared to everyone else at insuremytrip.com, and I know why we've used them on every other cruise. They work best for me. . I agree about it seeming to be the best policy.... the fact that they give primary health cover, not secondary... and for a great price!! If it is available for our next cruise, I would definitely use them again And no.... I don't work for them either!!!:) Link to comment Share on other sites More sharing options...
Quincella Posted September 30, 2008 #13 Share Posted September 30, 2008 At the absolute worst case it means Carnival might have to cough up $170 million in collateral to keep 3 of their ships from getting repossessed. Yes, but seriously....what would one do with a repossessed ship? Sell it in a yard sale? :rolleyes: It's not like there is any other line drowning in money that would want the ships. I don't think there's any danger here. Link to comment Share on other sites More sharing options...
trock Posted September 30, 2008 #14 Share Posted September 30, 2008 Yes, but seriously....what would one do with a repossessed ship? Sell it in a yard sale? :rolleyes: It's not like there is any other line drowning in money that would want the ships. I don't think there's any danger here. If they purchased some of the subprime mortgages, they can put up the people who are foreclosing on their homes...;) Link to comment Share on other sites More sharing options...
viciouslysh Posted September 30, 2008 #15 Share Posted September 30, 2008 I don't think it means anything. We just booked AIG Travel Guard KNOWING about all this. It's not stopping me from what is still the best policy for our needs. I compared to everyone else at insuremytrip.com, and I know why we've used them on every other cruise. They work best for me. Disclaimer: No, I don't work for AIG. :D Hope we won't ever need to find out if it'll work or not! I'm not worried. I did the same Link to comment Share on other sites More sharing options...
Quincella Posted September 30, 2008 #16 Share Posted September 30, 2008 If they purchased some of the subprime mortgages, they can put up the people who are foreclosing on their homes...;) My mortgage is not subprime, but I'll volunteer to give up my house as long as i can have a permanent suite and the employees still work there!!!! Link to comment Share on other sites More sharing options...
trock Posted September 30, 2008 #17 Share Posted September 30, 2008 My mortgage is not subprime, but I'll volunteer to give up my house as long as i can have a permanent suite and the employees still work there!!!! OOOH I like the way you think!!!!!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
1tuckersmom Posted September 30, 2008 #18 Share Posted September 30, 2008 My mortgage is not subprime, but I'll volunteer to give up my house as long as i can have a permanent suite and the employees still work there!!!! Gosh me too.. :D Link to comment Share on other sites More sharing options...
G'ma Posted September 30, 2008 #19 Share Posted September 30, 2008 What does this mean? It means nothing. Carnival is financially secure, it's ships are paid for - even the new ones - before they're built. They have more money than the diety. Fear Not!! Link to comment Share on other sites More sharing options...
Rare Tapi Posted October 1, 2008 #20 Share Posted October 1, 2008 At the absolute worst case it means Carnival might have to cough up $170 million in collateral to keep 3 of their ships from getting repossessed. Considering that Carnival made over $1 BILLION in NET revenue in 2006, and around $750 million in 2007, I doubt that they will have trouble coming up with $170 million if they needed to... Link to comment Share on other sites More sharing options...
scperk Posted October 1, 2008 #21 Share Posted October 1, 2008 I always buy AIG Travelguard...have only used it twice and they were very prompt...Dennis Link to comment Share on other sites More sharing options...
sjcruiser Posted October 1, 2008 #22 Share Posted October 1, 2008 AIG Insurance is a pretty safe bet. I just got an auto insurance quote from them and called two states dept. of banking and insurance who told me the insurance division is not in any trouble. Link to comment Share on other sites More sharing options...
enester Posted October 1, 2008 #23 Share Posted October 1, 2008 AIG was recently bailed out by Uncle Sam... the government (you) now own 80% of the company.... it's not going out of business. :cool: Link to comment Share on other sites More sharing options...
SpacemanSpiff Posted October 1, 2008 #24 Share Posted October 1, 2008 Yes, but seriously....what would one do with a repossessed ship? Sell it in a yard sale? :rolleyes: It's not like there is any other line drowning in money that would want the ships. I don't think there's any danger here. Maybe it could be a ghost ship, since it was.... re-possessed?!?? <rimshot> Link to comment Share on other sites More sharing options...
gtalum Posted October 1, 2008 #25 Share Posted October 1, 2008 Considering that Carnival made over $1 BILLION in NET revenue in 2006, and around $750 million in 2007, I doubt that they will have trouble coming up with $170 million if they needed to... I'm sure Carnival can come up with it if they have to, but it would be painful. $1 Billion in revenue is not $1 Billion in profit. They might even have to sell a ship if they had to cough it up, since financing is so tight. Fortunately that's the worst-case scenario and not very likely. Link to comment Share on other sites More sharing options...
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