Adult sabbatical years lead to four times more travel insurance medical claims

Over the last few years, claims made for medical expenses through travel insurance policies have increased by four times due to a larger number of older adults taking sabbatical years from work and taking exotic vacations. The Association of British Insurers (ABI) has released their data that has shown that the cost of overseas illness rose from approximately $122 million in 2004 to approximately $454 million in 2010. The number of claims rose from 120,000 in 2004, to 337,000 in 2010. According to the ABI, even though the cost of…

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The role of travel insurance in the hurricane season

As Hurricane Irene makes its way nearer to the American mainland over the Caribbean islands, travel agents are taking this time to inform their customers about the importance of travel insurance for hurricanes, while answering questions and selling the policies. In order to make sure that their customers are covered for a weather event, travel agents need to make sure that the insurance was purchased a minimum of one day before the U.S. National Weather service has spotted and given a name to the tropical storm or hurricane. This will…

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The return of the vacation and travel insurance

According to survey results by Mondial Assistance USA, a travel insurance company, the majority of Americans intend to take a vacation in 2011, a situation that has not been seen since the start of the global economic crisis. The insurer, based in Richmond, Virginia, found that 51 percent of Americans claim to be either “somewhat confident” or “confident” that they will be taking a vacation of a minimum of one week in length, and that will be at least 100 miles away from their primary residence. This is an increase…

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Using the internet to find your ideal travel insurance policy

When you have planned a business trip, a fun family holiday, or a dream vacation, the last thing you want to think about is financial worries if something should go wrong. For that reason, it is important to find the best travel insurance policy before you go, and at the right price. When it comes to finding that policy, the internet can become your best friend. With a little bit of homework to identify your travel insurance needs while traveling inside the country or internationally, you’ll be able to spot…

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Traveling Getting More Popular, A Reason For Travel Insurance

High gas prices burn a hole in everyone’s wallet, but as the economy gets better and there becomes a higher demand for traveling, Americans begin to spend more on summer travels. According to a survey that was recently released by a global travel assistant company called Mondial Assistance USA, in the summer of 2011 Americans spent about $16 billion more then they did back in 2010, which is quite a large jump. Almost half of all Americans have said that they are fairly confident that they will be taking a…

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One of the most unusual and high risk travel insurance policies written

When a young, 25 year old English woman started making plans to travel around the world, she went to Lloyd’s (of London) for her insurance policy. Lloyd’s was established in 1774, and has insured thousands of people; writing some very unusual and notable policies. However, Sarah Outen was one of the most difficult individual policies they had taken to task in more than twenty five years. Lloyd’s has insured some very famous people, and their body parts. For example, Bruce Springsteen and Celine Dion have insured their vocal cords, Tina…

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Why travel insurance claims are being denied

Travelers are often susceptible to a lack of information. Whether they are traveling for vacation or business, they may not have access to news outlets or other such resources that can be used to keep them informed of current events. In these cases, travelers often find out too late that their travel insurance policies do not cover every situation they might find themselves in. After the earthquake that rattled Japan and caused damage to several nuclear reactors on March 11, many insurers are now weighing whether the threat of radiation…

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Austrailian Travel Insurance News

The Royal Automobile Club of Victoria (RACV) provides advice regarding the comprehensive travel insurance policies in relation to the earthquake and tsunami that hit Japan last week. Claims will be assessed by RACV according to the Product Disclosure Statement (PDS) and the type of plan that was purchased will determine the coverage. For those who have not yet departed, cancellation or rearrangement expenses will be covered if the policy was purchased before March 12, 2011. Travels on or after March 31, 2011 are advised to be cancelled or rearranged until…

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Vacationers may want to consider insurance for skiing accidents

If you’re planning a getaway to the fresh, snow packed mountains this year, make sure you have warm gear, install your liners, and tighten your power straps. It would probably be a good idea to check your health insurance policy too. It’s that time of the year; hoards of people ready for vacation, and heading to the snow for a little skiing and snowboarding. Although both sports have an excellent safety record, accidents can still happen. Over the last 10 years, fatalities have averaged about 40 people each year. Serious and…

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Is travel insurance becoming a necessity?

Having suffered through the worldwide economic recession and a year marred by disruptions, the travel insurance industry is finally seeing an increase in business. More people bought travel insurance last year as people became aware of the potential for calamitous situations to arise during travel. With earthquakes, floods, volcanic eruptions, blizzards, and civil disturbances, people have begun to see the value of such policies. Dean Sivley, chief executive of Travel Guard, a travel insurance provider, has said that more people are buying policies, but that the company is also paying…

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