I do think that insurance for Miles is a good thing - I've had Randy's policy for years. However it only covers certain US airlines, and not the UK version of BA Miles. Hence, if your carrier is not in the list you should think about cashing miles in for tickets on other carriers who might still be here once the big shake-up is over.

Also, if you miles in a non-US scheme perhaps cashing those in might be in order if you think the airline will fail, rather than merge.

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Yes, I'm standing for TalkBoard too!