According to new figures released today by a leading travel insurance specialist, it seems the predicted drop-off in insurance sales has failed to materialise in spite of the credit crunch.

American Express said that the figures for uptake in travel insurance policies had remained stable in December despite many predicting a decline, with people less willing to splash out on expensive foreign holidays.

The company said that although people were cutting back on some things apparently holidays were not amongst them. This was confirmed by ABTA, who said that although people were avoiding the Eurozone, which because of exchange rates has become more expensive, they were still willing to take foreign trips.

“We have seen no evidence to suggest Britons will be foregoing their winter breaks this year despite economic conditions forcing people to pull the reins in on their spending habits.” Said Chris Rolland from American Express.