Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 27th of May 2017
December 12, 2012

Aon partners with Space Expedition Corporation

by Gill Montia

Story link: Aon partners with Space Expedition Corporation

Aon Risk Solutions has formed a partnership with Space Expedition Corporation (SEC), the Netherlands-based space tourism company. The two have designed an insurance policy providing customised protection for space tourists regarding losses related to flight cancellation, postponement or temporary interruption. Based upon regular non-appearance cancellation cover, the policy also includes additional supplemental coverage. SEC will […]



November 14, 2012

Aviva urges snow-sporters to get covered

by Richard Kilner

Story link: Aviva urges snow-sporters to get covered

Research commissioned by Aviva has revealed that whilst for a quarter of skiers and snowboarders their holiday this winter will be their first winter sports holiday only 40% of them will have winter sports travel insurance. There is a significant correlation between experience with winter sports and insurance, with 70% of those who consider themselves […]



July 28, 2012

New rules for banks selling insurance in packaged accounts

by Gill Montia

Story link: New rules for banks selling insurance in packaged accounts

From 31st March 2013, banks and building societies selling packaged accounts will have to adhere to new rules just published by the Financial Services Authority (FSA). Around one in five UK adults have a packaged account, which is current account bundled up with a range of insurance policies and other features. The regulator wants to […]



July 9, 2012

ACE and RAC form partnership

by Richard Kilner

Story link: ACE and RAC form partnership

ACE Group has announced that it has entered a partnership with RAC in the UK, whereby it will offer travel insurance under the RAC brand. RAC has seven million private and corporate members to whom it provides a wide range of motor-related services. The new travel insurance offering will be provided via a dedicated online […]



May 29, 2012

Gallagher Heath offers cover for pancreatic cancer suffers

by Gill Montia

Story link: Gallagher Heath offers cover for pancreatic cancer suffers

Gallagher Heath has teamed up with Pancreatic Cancer UK to provide a service to people affected by the condition, as well their carers and other supporters of the charity. The package includes travel, home and motor insurance. The travel product can cover an entire party on one policy with premiums based on each individual’s declaration […]



Holidaymakers shaky on travel disruption cover

by Gill Montia

Story link: Holidaymakers shaky on travel disruption cover

Nearly one third of Brits who have trips abroad booked in the next 12 months are concerned that their travel plans could be disrupted by factors outside of their control, according to new research from Lloyds TSB. However, while nearly two-thirds of travellers surveyed already have insurance in place for their next trip, 40% of […]



April 5, 2012

Better access to insurance for older customers

by Gill Montia

Story link: Better access to insurance for older customers

Older people should, in future, find it easier to get motor and travel insurance following an agreement between the Association of British Insurers (ABI), the Government and the British Insurance Brokers’ Association (BIBA). From 6th April, if an insurer or broker is unable to offer cover to an older motorist or traveller, due to upper […]



March 26, 2012

OK To Travel targets elderly and ill travel insurance market

by Brian Turner

Story link: OK To Travel targets elderly and ill travel insurance market

No upper age limit on both single-trip and annual multi-trip travel insurance and cover for severe medical conditions where other insurers may decline cover are just two of the eye-catching features on offer from Britain’s newest travel insurance provider. OK To Travel specialises in competitively-priced insurance for people with pre-existing medical conditions and also for […]



March 24, 2012

Which? finds fault with aggregators

by Gill Montia

Story link: Which? finds fault with aggregators

Which? is claiming that the price you see isn’t always the price you pay, when it comes to buying insurance through aggregator sites. Having tested out 11 of the most popular sites, Which? found many of them using pre-selected answers and assumptions in their online forms and the consumer group warns that this can lead […]



March 9, 2012

ABI: new motor and travel agreement for older customers

by Gill Montia

Story link: ABI: new motor and travel agreement for older customers

The Association of British Insurers (ABI) has announced a new agreement to improve access to motor and travel insurance for older customers. In a speech to the Age UK conference yesterday, ABI director general, Otto Thoresen, announced that ABI members that don’t provide insurance because they apply age restrictions will have to “signpost” customers to […]



December 2, 2011

Online booking blunders cost holidaymakers hundreds

by Gill Montia

Story link: Online booking blunders cost holidaymakers hundreds

Holidaymakers booking online are paying out hundreds of pounds to correct mistakes, with the average cost of an error amounting to £232. New research from LV= travel insurance suggest that almost one half of UK holidaymakers now book online but nearly one in twelve make mistakes when doing so. Almost a quarter of respondents who […]



October 17, 2011

Travel firm insolvencies inevitable

by Gill Montia

Story link: Travel firm insolvencies inevitable

The UK’s travel sector is facing severe economic headwinds, with a 49% increase in companies suffering “critical” financial distress, compared with this time last year. According to Begbies Traynor’s latest “Red Flag Alert”, further insolvencies in the sector are inevitable. Putting aside the sharp annual rise in “critical” cases, the third quarter of 2011 saw […]



October 4, 2011

One-fifth of Brits holiday abroad uninsured

by Gill Montia

Story link: One-fifth of Brits holiday abroad uninsured

One in five British holidaymakers are crossing borders uninsured and running the risk of sky-high medical bills. According to the 2011 ABTA Consumer Trends survey, 21% of Brits abroad with no insurance believe that the UK Government will cover their bills in the event of a mishap, with one in four 15 to 24-year-olds suffering […]



September 20, 2011

Nationwide extends travel insurance age limit

by Gill Montia

Story link: Nationwide extends travel insurance age limit

Nationwide is claiming a UK first as it adds free travel insurance for those aged up to 75 to its free current account. Previously, the upper age limit was 65 for new customers but from 21st September, the Society is extending the upper age limit on its FlexAccount travel package, where the account is used […]



August 17, 2011

ABI urges travellers to take out insurance

by Richard Kilner

Story link: ABI urges travellers to take out insurance

The number of British travellers falling ill abroad has recently hit a record high, the Association of British Insurers (ABI) has reported. Last year emergency medical treatments cost travel insurers £275m in claims, with medical expenses surging by 270% over the course of the last six years. Over the same period of time the number […]



August 16, 2011

AXA warns against dangerous new crazes

by Richard Kilner

Story link: AXA warns against dangerous new crazes

Travel insurer AXA has warned British travellers that claims made due to dangerous new crazes will be rejected. AXA has seen a spike in such claims, with as many made in the summer of this year as in the whole of 2010. The insurer blames the rise in claims (such as falling off of balconies) […]



August 9, 2011

Brits opt for the “XL” family holiday

by Gill Montia

Story link: Brits opt for the “XL” family holiday

Esure has detected a growing trend among Brits as an increasing number of couples opt for the “XL” family holiday. According to the insurer, one in four families are now jetting off abroad in the company of at least six relatives, with over half of this group convinced they will save almost £400 by extending […]



July 23, 2011

Lloyd’s and Aon team with bedbug offering

by Gill Montia

Story link: Lloyd’s and Aon team with bedbug offering

Lloyd’s underwriters have teamed up with insurance broker Aon and Global Excess Partners, an innovator in new insurance products, to develop a comprehensive bedbug insurance solution for travellers and the hospitality industry. According to Lloyd’s, bedbug infestations are on the rise, causing hotel owners, landlords and businesses major problems. High levels of infestation have been […]



July 15, 2011

Overseas stag parties put revellers at risk

by Richard Kilner

Story link: Overseas stag parties put revellers at risk

Stag and hen parties held overseas can lead to more serious after-effects than bleary eyes and a hangover, new research by Direct Line Travel Insurance has revealed. Of the 5.7m people who held stag and hen parties overseas in the last two years 115,000 knew someone who had had a piercing or tattoo that they […]



July 2, 2011

Aviva revamps group personal accident offering

by Gill Montia

Story link: Aviva revamps group personal accident offering

Aviva has revamped “People and Places”, its group personal accident (GPA), sickness and business travel policy, as it looks to grow business in this area. New extensions including closure of airspace, kidnap and ransom cover, nuclear, chemical and biological cover, war cover outside the policyholder’s country of domicile, cover for rehabilitation expenses, search and rescue, […]