Tickets. Money. Passport. How about scheduled airline failure insurance policy? With today’s news that EuroManx has bitten the dust, joining a growing list of airlines that have succumbed to the problems of high oil prices and securing ongoing funding, it may be prudent to think about getting a policy.

Such policies, which repay either the cost of a ticket on a failed carrier or the (presumably higher) cost of getting another ticket on a different airline, have been around since the mid-1990s. Anyone who had booked a flight with Eos, Oasis Hong Kong or EuroManx will now be kicking themselves that they hadn’t insured themselves.

But the value of such policies may be coming to an end. Marcus Hearn, an insurance broker which sells policies to travel agencies to sell on to their customers, has been gradually tightening up its policy. It won’t pay out on start-up airlines unless they have been specifically agreed with the insurer. Interestingly, the company won’t cover passengers flying on Silverjet – which recently secured funding to keep going at least till the end of the year - without prior agreement.

On a related point, I see that all business carrier MAXjet has risen from the ashes of its bankruptcy. Sort of. Its assets have been bought by the NCA Sports Group, a company which organises travel for university and professional sports teams. The group plans to run MAXjet as a luxury charter operation. NCA’s chief executive Kevin Clark says in an open letter on the MAXjet website: “We believe that it’s time for a smart luxury charter service that combines comfort, value and flexibility.”

Rather them than me.