Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 06th of July 2008
June 27, 2008

Age discrimination law demands new approach from insurers

by Gill Montia

Story link: Age discrimination law demands new approach from insurers

Questions are already being asked about the impact on the insurance sector of the Government’s new Equalities Bill, which aims to put an end to age discrimination in England and Wales while at the same time allowing employers to discriminate in favour of female and ethnic minority job applicants.
The proposals were outlined in the House […]



June 16, 2008

Equity launches insureblue for male cancer sufferers

by Gill Montia

Story link: Equity launches insureblue for male cancer sufferers

Equity Insurance Group has extended its personal lines range with the launch of insureblue, a travel insurance product aimed at men with prostate and testicular cancers.
The move follows the introduction last autumn of insurepink, a travel policy for women who have breast cancer.
Insureblue is aimed at the 55,000 men diagnosed with prostrate and testicular cancer […]



May 30, 2008

FSA reminder on travel insurance regulation

by Gill Montia

Story link: FSA reminder on travel insurance regulation

The Financial Services Authority (FSA) is reminding insurers and travel agents that new regulations regarding the sale of travel insurance come into force in January 2009.
The Authority already regulates the sale of travel insurance that is not connected to any particular travel arrangements and bought direct from an insurer, or through an insurance broker.
From […]



May 15, 2008

Two new travel policies from LV=

by Gill Montia

Story link: Two new travel policies from LV=

LV=, the friendly society formerly known as Liverpool Victoria, has launched two new travel policies: annual and single trip.
Medical cover of up to £10 million is included on both types of policy, as is £2,500 personal possessions cover, £500 for loss of money, £5,000 for cancellation, £250 for travel delays and up to £25,000 for […]



May 6, 2008

Voyager acquires CHF

by Richard Kilner

Story link: Voyager acquires CHF

Travel insurer Voyager, which is owned by Somerville Underwriting Holdings plc, has acquired CH Facilities, a broker which specialises in offering travel insurance to individuals with complex medical histories.
CHF, which trades as Able2Travel, has been a long-term partner of Voyager, and it is hoped that the acquisition will bolster Voyager’s travel, accident, sickness and health […]



April 15, 2008

Insurers withdraw cover for Terminal 5 travellers

by Gill Montia

Story link: Insurers withdraw cover for Terminal 5 travellers

Travellers passing through Heathrow’s Terminal 5 may experience difficulties purchasing insurance for flight delays and lost baggage.
A number of companies are withdrawing cover for those using the £4.3 billion terminal, which has seen various states of chaos since it opened on 27th March.
Problems with baggage handling have led to record baggage mounds plus flight delays […]



April 7, 2008

Baggage delay cover a must for travellers

by Gill Montia

Story link: Baggage delay cover a must for travellers

Defaqto, the independent financial research company, is advising travellers to check that their luggage is fully insured before they fly abroad.
The firm has recently been examining single-trip insurance policies to establish what cover is provided for delayed baggage and found that 14% of policies did not offer this type of cover.
Baggage delays can be costly. […]



April 3, 2008

Terminal 5 woes could be mitigated by travel insurance

by Richard Kilner

Story link: Terminal 5 woes could be mitigated by travel insurance

The huge problems that have greeted the opening of Heathrow’s Terminal 5 have been well-documented, but the troubles are even more dire for those lacking travel insurance.
MORE TH>N has released figures stating that, as of Wednesday, over 200 flights have been cancelled and tens of thousands of luggage have been mislaid.
Unfortunate travellers have had to […]



March 31, 2008

Insure and Go appoints new MD

by Gill Montia

Story link: Insure and Go appoints new MD

Insure and Go, the travel insurance specialist, is seeking a new managing director.
The firm is currently headed by its co-founder, Perry Wilson, and the appointment is being made ahead of plans to enter the home and motor insurance markets.
Mr Wilson explains: “Entrepreneurs are not the best people to actually run companies. A lot […]



March 20, 2008

Hidden credit/debit card costs abroad

by Richard Kilner

Story link: Hidden credit/debit card costs abroad

Research conducted by uSwitch reveals that Britons will spend £23bn using credit and debit cards whilst on holiday this year.
However, most travellers are unaware that banking costs incurred, in total, will amount to £686m.
The majority of consumers are aware of fees for both cash withdrawals and exchange rates, but are unaware that a fee averaging […]



FCO urges older travellers to check their insurance

by Richard Kilner

Story link: FCO urges older travellers to check their insurance

The UK Foreign and Commonwealth Office has issued advice to over 55s going on holiday, urging them to make certain they have the necessary travel insurance.
Year on year the number of older holidaymakers is on the rise, with an estimated 20% engaging in risky behaviour they would not countenance at home.
Slightly less than 20% report […]



March 18, 2008

2007 travel insurance paid out over £400 million

by David Masters

Story link: 2007 travel insurance paid out over £400 million

Travel insurance providers InsureandGo have revealed the most-claimed-for top five of travel insurance in 2007.
Travel insurers based in the UK received a total of 1.75 million claims for the year, totalling over £400 million.
The most popular claim was for medical treatment, with over 500,000 claims insurance pay-outs totalling £242.3 million. Medical claims cost an […]



March 11, 2008

Heath Lambert launches travel insurance with Dolmen

by Gill Montia

Story link: Heath Lambert launches travel insurance with Dolmen

Heath Lambert has formed a joint venture with Dolmen Insurance Brokers in Ireland, to offer a specialist travel insurance that will cover pre-existing medical conditions.
The new product will be launched initially at Dolmen’s Dublin office and will be available through its network of 160 sub-agents in Ireland shortly after.
Heath Lambert has been providing insurance solutions […]



February 21, 2008

Rugby fans advised to check travel insurance

by Richard Kilner

Story link: Rugby fans advised to check travel insurance

With the Six Nations gearing up for its third weekend of international rugby clashes fans are being urged to make sure their travel insurance is adequate when they travel overseas.
The Six Nations tournament covers England, Wales, Ireland, Scotland, Italy and France. This weekend will see an exodus of England fans visiting Paris.
Halifax Travel Insurance is […]



February 19, 2008

Consumers advised to browse for best travel insurance

by Richard Kilner

Story link: Consumers advised to browse for best travel insurance

Research conducted by moneysupermarket.com has discovered that annual travel insurance can be friendlier on your wallet than single trip coverage for individuals who enjoy winter sports whilst on holiday.
Insurance research chief, Peter Gerrard, explains that the myth of single trip policies being cheaper has been destroyed by the research, and advises consumers to browse thoroughly […]



February 7, 2008

One in three Britons risk uninsured holidays

by Gill Montia

Story link: One in three Britons risk uninsured holidays

Nationwide has undertaken research that suggests one in three Britons fail to take out adequate insurance cover before setting off on holiday.
In a recent survey, 35% of respondents were leaving themselves exposed to cancellation and medical emergency cost, or the loss of personal belongings, by not taking out travel insurance.
In addition, 36% of those questioned […]



January 16, 2008

Groupama upgrades PMI to include travel insurance

by Gill Montia

Story link: Groupama upgrades PMI to include travel insurance

Groupama Healthcare has made some improvements to Santé, its private medical insurance product.
Santé was launched in 2006 and is aimed at the corporate SME sector. Its comprehensive cover provides a full refund on eligible inpatient treatment as well as various levels of outpatient cover.
The product has now been extended to include the option of annual […]



January 7, 2008

Winter sports enthusiasts should read small print

by Gill Montia

Story link: Winter sports enthusiasts should read small print

According to Moneysupermarket.com, one-quarter of the three million UK holidaymakers that will be headed for a skiing break this year will not be insured properly.
Some will not have read the small print and be unaware that their travel insurance does not cover skiing. Others do not believe that travel insurance is worthwhile.
It is estimated that […]



December 19, 2007

FSA to regulate Connected Travel Insurance

by Gill Montia

Story link: FSA to regulate Connected Travel Insurance

The Financial Services Authority (FSA) has published a consultation paper setting out its plans for regulating Connected Travel Insurance (CTI), that is to say travel insurance sold alongside a holiday.
The FSA already regulates travel insurance bought directly from insurance firms and brokers, and the consumer group Which? has campaigned to extend the regulation to CTI […]



December 17, 2007

BIBA welcomes new Travel Insurance Review

by Brian Turner

Story link: BIBA welcomes new Travel Insurance Review

BIBA has welcomed the publication today by HM Treasury of its legislation to bring all travel insurance providers under FSA regulation.
Eric Galbraith Chief Executive of the British Insurance Broker’s Association, said: “The British Insurance Brokers’ Association has long campaigned for this legislation to protect the 20 million people who buy travel insurance every year. We […]