Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 20th of March 2010
November 26, 2009

EU to review Package Travel Directive

by Gill Montia

Story link: EU to review Package Travel Directive

The Consumer Commission of the European Union is launching a review of the financial protection available to travellers who book flights direct with an airline.
Currently, only those who have booked through a travel agent or taken out independent financial failure insurance are covered for the cost of a new flight if their carrier goes bust.
However, [...]



November 25, 2009

Insureandgo offer Hamster coverage

by Richard Kilner

Story link: Insureandgo offer Hamster coverage

Top Gear host Richard ‘The Hamster’ Hammond’s strugglings to get insurance for his skiing holiday have come to an end, as Insureandgo agree to offer him cover during his holiday.
Hammond, who has suffered multiple injuries (most notably an enormous and almost fatal crash in a jet-powered dragster), told Absolute Radio that when insurers ask him [...]



November 20, 2009

Delayed flight passengers now eligible for compensation

by Gill Montia

Story link: Delayed flight passengers now eligible for compensation

Air travellers whose flights arrive at their destinations three hours late or more are now eligible for compensation.
Yesterday, the European Court of Justice ruled that the damage sustained by air passengers in cases of long delay is comparable with that of cancellation.
The Court said: “There is no justification for treating passengers whose flight is delayed [...]



November 17, 2009

ProtectMyHoliday warns of Christmas airline risk

by Gill Montia

Story link: ProtectMyHoliday warns of Christmas airline risk

ProtectMyHoliday.com is warning travellers to be cautious about Christmas holiday arrangement as the travel industry continues to face large losses.
According to the travel failure specialist, the International Air Transport Association recently predicted that the global airline industry will make a cumulative loss of €11 billion this year, a steep increase on the €9 billion estimated [...]



November 16, 2009

Voyager revenue surges despite recession

by Richard Kilner

Story link: Voyager revenue surges despite recession

Travel insurance specialist Voyager has said that holidaymakers are increasingly turning to financial protection insurance, after a number of high profile budget airline collapses and other failures in the industry.
Over the last year 32 airlines have failed, according to Voyager, with more facing bankruptcy.
As a result of this, Voyager’s WEBroker travel insurance product has seen [...]



Moneysupermarket reports 5% rise in insurance revenues

by Gill Montia

Story link: Moneysupermarket reports 5% rise in insurance revenues

Moneysupermarket.com has reported that insurance revenues increased 5% in the third quarter of 2009, compared to a year earlier.
The result was also more than 15% ahead of the quarterly rate in the first six months of the year.
Motor insurance revenues returned to growth, having declined over the first half of 2009, and home and travel [...]



November 12, 2009

60% of travellers withhold medical information

by Richard Kilner

Story link: 60% of travellers withhold medical information

AllClear, the medical travel insurance specialist, has warned that 60% of travellers are invalidating their insurance by refusing to reveal pre-existing medical conditions.
Sometimes information is simply not volunteered as the traveller does not recognise its importance, but it is also the case that some travellers deliberately withhold relevant information from their insurer.
It is thought that [...]



October 30, 2009

One in ten fail to take out travel insurance

by Richard Kilner

Story link: One in ten fail to take out travel insurance

One in ten of travellers are not taking out travel insurance, according to new research commissioned by Check Safety First.
Chief Executive Officer Mark Harrington has called on the insurance industry to educate consumers about the importance of travel insurance, pointing out that the average medical claim is around £2,500, and clearly worth spending £20 to [...]



October 23, 2009

Travel insurance for over 50s with pre-existing conditions launched

by Richard Kilner

Story link: Travel insurance for over 50s with pre-existing conditions launched

Over 50s insurer staysure.co.uk has enhanced its offering with the creation of a new service aimed at improving the options of those with pre-existing medical conditions.
The firm has launched a comprehensive new product which covers a large number of minor pre-existing conditions free of charge.
Staysure.co.uk’s medical screening programme will also offer those with illnesses including [...]



October 22, 2009

Direct Travel Insurance offers ski insurance advice

by Richard Kilner

Story link: Direct Travel Insurance offers ski insurance advice

As winter approaches and the thoughts of some travellers drift towards booking skiing and snowboarding holidays, Direct Travel Insurance has advised travellers to consider carefully when browsing for insurance.
Given the combination of cold weather, high speeds and competitiveness the insurer advocates ensuring travellers are covered for Search and Mountain Rescue, as well as helicopter rescue.
In [...]



October 13, 2009

ATOL may be extended

by Richard Kilner

Story link: ATOL may be extended

Mark Tanzer, chief executive of ABTA, has announced plans to help prevent travellers being exposed to the possible financial collapse of their travel itinerary suppliers.
Comprehensive specifics of the plan have not yet been made public though it is speculated to augment the ATOL levy on package holidays.
ATOL (Air Tour Operators Licence) is run by the [...]



October 9, 2009

ABTA keen to extend ATOL to independent travellers

by Gill Montia

Story link: ABTA keen to extend ATOL to independent travellers

The Association of British Travel Agents (ABTA) is furthering the interests of travellers who book holiday flights and accommodation directly with operators.
Under current provisions, Britons who create their own holidays stand to lose money if an operator goes bust, while those who use a travel agent registered with the government-backed ATOL scheme are protected in [...]



September 29, 2009

Direct Travel Insurance and Holiday Extras team up

by Richard Kilner

Story link: Direct Travel Insurance and Holiday Extras team up

Direct Travel Insurance and Holiday Extras have made an agreement to offer airport parking and hotel booking facilities via its website.
Web users browsing Direct Travel Insurance’s site will be able to pick from a selection of competitive quotes on airport parking and hotels within the UK.
Holiday Extras Account Manager James Lewis has stated the firm [...]



jml signs up Staysure and JS Insurance

by Gill Montia

Story link: jml signs up Staysure and JS Insurance

Staysure and JS Insurance have introduced their products to the jml website.
Staysure specialises in the over 50’s market and is using jml to market its Over 50’s travel insurance and Over 50’s Holiday Homes Property insurance.
JS Insurance, which is a unit of Jade Stanley Ltd, is providing travel insurance for residents of EU countries, [...]



PJ Hayman launches Travel for Treatment policy

by Gill Montia

Story link: PJ Hayman launches Travel for Treatment policy

PJ Hayman has launched Free Spirit Travel for Treatment, a new policy aimed at UK nationals travelling abroad for medical procedures.
According to the firm, so called medical tourists are at risk if they take out only standard travel insurance.
While there are some specific policies that provide some protection for additional travel/accommodation costs they do [...]



September 15, 2009

Increase in take-up of gap year travel insurance

by Richard Kilner

Story link: Increase in take-up of gap year travel insurance

People utilising a gap year to go travelling are becoming more cautious, according to Direct Travel Insurance.
Direct Travel Insurance has seen backpacking policy sales surge by 25% over the 12 months ending July 2009, an indicator that despite the recession and tightening purse strings the overlooking of travel insurance is becoming less common.
In the European [...]



September 3, 2009

SkyEurope highlights the need for SAFI

by Gill Montia

Story link: SkyEurope highlights the need for SAFI

Reflecting on the demise of SkyEurope, the Slovakia-based budget airline that has collapsed leaving thousands of passengers stranded, International Passenger Protection (IPP) is reminding travellers of the benefits of financial failure insurance.
The firm, which operates the ProtectMyHoliday.com brand, points out that SkyEurope was marketing flights for this autumn as bankruptcy loomed, meaning that many of [...]



September 1, 2009

RSA protects business travellers with new alliance

by Gill Montia

Story link: RSA protects business travellers with new alliance

RSA has formed an alliance with First Assist and Drum Cussac, both of which specialise in medical and security assistance.
The agreement will bolster RSA’s personal accident and business travel offering by reducing exposure to medical and security risks.
The group’s personal accident manager, Toni LePine, comments: “In the current climate of heightened security risks and dangers [...]



August 26, 2009

EU travellers unaware of free health cover

by David Masters

Story link: EU travellers unaware of free health cover

More than half of Brits could be duped into paying for travel insurance in Europe because they’re unaware of the free European Health Insurance Card (EHIC).
A poll by moneysupermarket.com found 51% of UK adults don’t know about the benefits of the EHIC when travelling in Europe.
Furthermore, 43% of those polled still believe the defunct E111 [...]



Britons advised against skipping travel insurance

by Richard Kilner

Story link: Britons advised against skipping travel insurance

Lloyds TSB Added Value Accounts has commissioned research which reveals nearly 2 million Britons will go holidaying in sunnier lands during the forthcoming weekend.
Of the 1,000 respondents approximately one in ten (equating to 5.2m when extrapolated to the entire UK population) admitted to going on holiday in the past without proper insurance.
Nine percent cited lack [...]