Some insurers have been facing some criticism for refusing to pay when a policyholder had been drinking on vacation. Travel insurance companies in the United Kingdom have been turning down certain claims when they discover that the vacationers who had made them had been drinking alcohol before they suffered from the accident in question. The Financial Ombudsman Service (FOS) has stated that a “high standard of proof” must be provided. According to the FOS, the travel insurance company must be able to show quite solidly that the amount of alcohol…
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Travel insurance coverage may not extend to mental health
Many vacationers purchase a policy in case of a medical emergency, but not all forms are covered. Travel insurance can be a very important way for people to protect themselves against the financial losses associated with the unexpected, whether that be the sudden need to cancel a trip at the last moment or requiring urgent medical assistance while away from home. However, these policyholders are starting to discover that mental health is typically not covered. One of the most important types of coverage that a travel insurance policy provides is…
Read MoreTravel insurance regulation changes headed to Colorado governor
A regulatory bill is now headed to Gov. John Hickenlooper after meeting no resistance in the Senate. A bill designed to provide the travel insurance industry in Colorado with regulation for the first time is now on its way to the desk of Governor John Hickenlooper in order to obtain his signature so that it can be passed into law. This bill was moved along to the Governor without experiencing any votes against it in the state Senate. Rep Tracy Kraft-Tharp (D-Arvada) sponsored House Bill 1185, which saw great favor…
Read MoreTravel insurance sales spike as the MH370 mystery continues
Fliers headed into or through the South East Asian region are feeling a higher sense of risk. In light of the heart wrenching disappearance of the Malaysia Airlines flight MH370 and the 239 people who made up its passengers and crew, travel insurance has become a product that fliers are packing with them much more frequently, as people feel rattled about the situation in the South East Asian region. This has occurred at the same time that some travelers have simply cancelled their plans, outright. Many people are feeling quite…
Read MoreTravel insurance isn’t always practical, says National Consumers League
The group has released a statement that the protection does not always make sense. According to the National Consumers League, a group that has been in existence for 114 years, the way that the industry functions has designed travel insurance in a way that it is typically not a good deal for travelers. They have pointed out that there are far too many exceptions to make the coverage worthwhile for most people. The consumer group has pointed out that travel insurance policies are filled with different kinds of exceptions that…
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