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International Travel Insurance Conference ESSENTIAL READING FOR TRAVEL INSURANCE INDUSTRY PROFESSIONALS WWW.ITIJ.CO.UK JUNE 2012 • ISSUE 137 Disruption dilemma New statistics have shown that, since 2010, one in eight US adults have had their travel disrupted by natural disasters or other major world events. Stefan Mohamed reports The survey, conducted on behalf of the US Travel Insurance Association (UStiA), showed that 12 per cent of American travellers either had their plans disrupted or considered changing them due to unforeseen catastrophes such as earthquakes or the Icelandic volcano. It also showed that only 29 per cent of these travellers had travel insurance, although 96 per cent of those who were insured said that they were ‘satisfi ed’ with their insurance, and 46 per cent said they were ‘very satisfi ed’. The fi gures indicated that 18-to-34-year-olds were the most likely group to either alter their plans or to have them impacted by natural disasters or other events, making up 20 per cent of those surveyed. They were closely followed by college graduates (17 per cent). Twenty-seven per cent of individuals with a household income exceeding $50,000 said they would probably purchase travel insurance, while 22 per cent of those aged 55 or over planned to purchase it at some point. Premium price hike in Ireland A new survey has found that the cost of travel insurance premiums has risen by 26 per cent since Greek crisis could prompt problems 2009. Mandy Aitchison has more details The survey, by the Consumers’ Association of Ireland The long-term economic problems in handling agents nominated by that Greek insurer if Fund, though, as it reportedly has debts of around (CAI), found that the average cost of an annual policy Greece could have potentially serious the claim is pursued in the UK. In either situation, it 700 million. According to Lee, “This is surely for families is now €184, compared with €153 three implications for holidaymakers stuck is the Greek insurer that must pay the damages and unsustainable, and it therefore seems inevitable the years ago. It also suggests that insurers have lowered there in the short term; but what associated costs if the claim is successful. However, if Fund will be declared bankrupt in the foreseeable their maximum payout for claims related to medical about if a visitor suffers an injury in that the Greek insurer goes bust in the interim, what are future. If that occurs, there is currently no alternative expenses by up to a quarter. jurisdiction? Mark Lee of Penningtons the options? means of recovering damages (assuming the third- The CAI’s fi gures show that online travel agency Solicitors considers the effect on “In these circumstances,” said Lee, “the best advice party driver has insuffi cient fi nancial means to satisfy Ebookers, while being one of the cheapest providers international travel insurers would usually be to lodge a claim against the Greek a judgement).” of travel cover, has decreased the amount of benefi ts Auxiliary Fund, which is the Greek equivalent of the Lee also pointed out that that the above problem on offer, including medical cover, baggage delay, If one considers the example of an English claimant Motor Insurers’ Bureau in the UK. This fund was set is not necessarily unique to Greece – there are money loss, personal accident and cancellation who suffers injury due to the negligence of a third- up to help ensure damages are paid to a claimant concerns over the continuing economic and cover. It has, however, increased coverage for loss party Greek driver while on holiday, ordinarily the injured in an RTA in circumstances where there is unemployment woes on the Iberian peninsula, and of personal property. Specialist health insurer VHI claim would be negotiated with the Greek insurer no identifi ed defendant, an uninsured third-party with Spain and Portugal both receiving high numbers was dubious about being excluded from the survey, of the defendant driver if the claim were to be vehicle, or if the insurer of the third-party driver of tourists, the problem could escalate signifi cantly in claiming that their large market share and competitive pursued in Greece, or alternatively, with the UK becomes insolvent.” All is not as it seems with the a short period of time. deals should have qualifi ed them for inclusion. 2 NEWS IN THIS ISSUE REGULARS News continued 4 Editorial rant 4 Company brief 12 Insurance matters 13 Health matters 16 IPMI news 18 ITIJ CONTRIBUTORS Air ambulance news 20 Travel matters 24 Tatum Anderson is a freelance Service directory 39 international health and technology business writer with a decade of Grapevine 46 experience. Her specialist subjects include On the move 47 emerging markets, business, health and public health policy. She has written for a variety of publications, including The NEWS ANALYSIS Economist, Guardian Weekly, BBC News Online, Wall Street Journal Europe and the The edge of the volcano 8 Financial Times. If or when Greece defaults from the eurozone, what will holidaymakers in the country at the time have to cope with? Robin Gauldie has been a freelance journalist since 1989, writing for the travel FEATURES sections of national newspapers including The Sunday Telegraph, The Observer, The This sporting life ... and death 26 Times, The Sunday Mirror, The Guardian and Scotland on Sunday. He is the author ITIJ asks if professional sports associations are taking enough responsibilty for insuring their athletes at international events of more than 20 travel guidebooks to destinations including Greece, Scotland, France, Portugal, Egypt and Morocco. ITIC Oxford Review 28 A synopsis of each session that took place at ITIC Oxford, complete with a gallery of pictures taken throughout the conference David Kernek has, for the past four years, been in a full-time post editing Assistance & Healthcare World Markets: two glossy travel magazines - Holiday Villas and Holiday Cottages. He has since 36 Switzerland converted it into a freelance role having A relatively safe country with a sophisticated medical system offers become self-employed and now has few challenges for insurers and assistance companies regular commissions in consumer, trade and B2B publishing. ITIJ TEAM Editor-in-chief: Ian Cameron ITIJ Published on behalf of: Voyageur Publishing & Events Ltd, Editor: Sarah Watson Voyageur Buildings, 43 Colston St, Bristol BS1 5AX, UK Voyageur Buildings, 43 Colston Street, Bristol BS1 5AX, UK Title editor: Mandy Aitchison The information contained in this publication has been published in good faith and every effort has been made to ensure its accuracy. Neither the Copy editor: James Paul Wallis Telephone: +44 (0)117 922 6600 publisher nor Voyageur Ltd can accept any responsibility for any error or misinterpretation. All liability for loss, disappointment, negligence or Editorial assistant: Stefan Mohamed editorial dept: Ext. 3 other damage caused by reliance on the information contained in this publication, or in the event of bankruptcy or liquidation or cessation of Conference manager: Denise Clements advertising dept: Ext. 1 the trade of any company, individual or fi rm mentioned is hereby excluded. The views expressed do not necessarily refl ect those of the publisher. Production: Kirsty Diclaudio subscriptions dept: Ext. 209 Helen Watts accounts dept: Ext. 4 Printed by Pensord Press, South Wales, United Kingdom Subscriptions: Kate Knowles Copyright © Voyageur Publishing 2012. Materials in this publication may not fax: +44 (0)117 929 2023 Advertising sales: David Fitzpatrick be reproduced in any form without permission James Miller email: [email protected] web: www.itij.co.uk INTERNATIONAL TRAVEL INSURANCE JOURNAL ISSN 1743-1522 Finance: Elspeth Reid Louise Goddard Would you like to make a comment? Design: V Creative Design WOULD YOU LIKE TO SUBSCRIBE? Please get in touch with Ian Cameron, vcreativedesign.co.uk VISIT www.itij.co.uk/subscription Editor-in-Chief of ITIJ on +44 (0)117 922 6600 ext205 International Travel Insurance Journal 4 NEWS Squaremouth advises Olympic attendees The huge swell in visitor numbers to London insurance policies before purchase so as to avoid during Olympics season will present a much choosing the wrong coverage and potentially facing increased risk of inconvenience for travellers, substantial unpaid claims. Squaremouth urges according to US-based comparison website travellers to consider any medical issues they may Squaremouth, and travel insurance should be have, whether it is necessary to purchase Cancel (Sung to the theme of Grease) considered a necessity. The number of people for Any Reason coverage or primary or secondary passing through Heathrow Airport is expected medical insurance, and that timing is important “We got our problems and we see the light to increase by up to 30 per cent, from 180,000 when purchasing insurance, as it is often beneficial We gotta plug and think, we gotta feed it right. passengers per day to as many as 233,000, to buy early. The site hopes that highlighting There ain’t no danger we can go to far If we start believing now that we’re as broke these common pitfalls will help to better educate an increase that ‘can cause major issues for air as we are. travellers,’ according to Squaremouth marketing customers about the importance of insurance. manager Anna Coats. “Airline passengers may have Greece is the word travel delays, missed connections or lost baggage They think our debt is just a growing pain occurrences,” she continued. Why don’t they understand, it’s just a crying One in five claims shame Heathrow is expecting to handle over 200,000 The banks are lying only real is real due to cancellation individual pieces of luggage on its busiest days, We start to find right now we got to beg for a and Squaremouth warns travellers that this will meal.
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