Travel insurance claims for airplane crashes decrease

airline insurance war risk policy

This is the result of a considerable decline in the number of accidents that have occurred. For the first time since 1991, travel insurance airline claims for aircraft accidents will have fallen below the $1 billion mark this year, as the number of fatalities from airplane accidents and the number of destroyed planes have dropped to record lows. The number of large accidents involving aircraft has plummeted throughout 2012. Ascend, an advisory firm, made the estimations regarding the number of destroyed aircraft and passenger fatalities and has recently released this…

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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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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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