News articles in Insurance

Volcano Eruptions and Travel Insurance

Iceland's volcano eruptions affects Travel Insurance

(Dive Travel Business News - April 20, 2010) -- The havoc wreaked by a ash-spouting volcano in Iceland has forced many travelers worldwide to read the fine print in their Travel Insurance Policies. Since insurers don't normally factor in a volcano's ability to shut down most of Europe as part of it's coverage, Travel Policy holders face a considerable amount of uncertainty as to whether or not they are camping in the airport instead of a hotel.

Travel Insurers have been swamped with huge call volumes from both U.S. travelers trying to get to Europe and those stranded in Europe. Is the traveler covered under its trip cancellation or interruption coverage when a volcano erupts?

To help determine whether a policy is covered or not, policy holders need to find out if the insurance provider classifies the volcanic ash cloud as a “natural disaster” or an “adverse weather” event. read more »

Unlicensed Tour Operators Thrive on the Internet

(DiveTravelBusinessNews.com - Nov 30, 2009) -- UK Telegraph reporter Gill Charleton recently caused a stir in the travel world when he reported that the popular TripAdvisor website was promoting questionable tour operators. While the ground tour operators cited were located in Florence Italy, the story raises questions about unlicensed tour operators using trusted sites on the Internet to advertise their services. These ground operators lack basic public liability insurance and should something unfortunate happen, travelers using such tour operators are usually not covered under their own travel insurance.

The source of the problem lies with reviewers at the TripAdvisor.com website, and travelers in general, who are unaware that many guided ground tours are operating outside the law and without insurance. Many of these tours are picked up outside a hotel, the traveler pays cash and the company works from a cellphone, not a bricks and mortar operation. Travelers should check to see if a company is legitimate and has insurance before booking.

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Job Loss Protection Travel Insurance

( USA TODAY - May 28, 2009) -- There's no question the travel industry is hurting big time. As if enduring the most severe recession in generations weren't enough, the H1N1 crisis further dampened advance bookings. So the threat of rising unemployment is taken as much more than a threat by many travel executives.

Thus the emergence of a term you might not have encountered very much in the past: Job Loss Protection. It's why so many travel companies are reassuring you it's okay to book that vacation, even if you're worried about losing a steady paycheck, because your booking will be covered.

In some cases, you can purchase such protection as part of a travel insurance policy. In other cases, travel suppliers—including those that sail as well as fly—are pledging to offer assistance if you suddenly find yourself unemployed. read more »

When Client Turns Claimant - A travel agent's guide to disclaiming liability

(Dive Travel Business News - June 3, 2009) - Regardless of destination, purpose, or price range, every traveler has the same goal for their trip: they want it to be perfect. Oftentimes, however, despite the best effort of a travel agent to plan and prepare the ideal itinerary, something unexpected happens. If the result of this unintended event is personal injury or property damage to the client, he or she will look for someone to blame. Suddenly, the travel agent becomes a convenient target for litigation and the friendly client turns into an angry claimant. Although the law recognizes the responsibility of an agent to a client under the proper circumstances, the law also recognizes the right of the agent to disclaim certain liability. read more »

Popularity of Travel Insurance Increases

(May 8, 2008 - DTN) -- Amid airline failures, terrorist threats, hurricane dangers and the medical ailments that afflict an aging population, travel coverage is growing more popular.Between airline issues, natural disasters, terrorist threats and medical emergencies, more people are opting to purchase travel insurance. In 2006, Americans spent roughly $1.3 billion on travel coverage, a 20% increase from 2004, a study by the U.S. Travel Insurance Association found.

Travel insurance companies say insurance can offer one-stop, less-hassle service. But most consumer advocates advise careful shopping to determine that you’re not paying extra for something you’ve already got covered.

Americans spent $1.3 billion on travel insurance in 2006, a 20% jump from 2004, according to the latest study released by the U.S. Travel Insurance Association.

Insurance got a big lift after the Sept. 11, 2001, terrorist attacks, which shut down air traffic for days. Roughly 30% of leisure travelers buy insurance today, compared with about 10% before Sept. 11, the U.S. Travel Insurance Association reports. read more »

Fliers Buying Insurance Protection for Delays

(May 20, 2008 - Wall Street Journal Online) -- By Scott McCartney

Summer travelers worried about getting stranded at an airport because of storms, missed connections and canceled flights have new ways to protect themselves — for a fee.

After last summer’s many travel hassles, travel-insurance companies are pushing low-cost policies that include “delay insurance,” which pays for hotel rooms and meals if you get stuck. Delay insurance is included in some policies that offer protection like refunds if you fall ill. Cost: Usually less than $50 when flying on inexpensive domestic tickets.

And airlines are now getting into the protection game, sensing they can make money off the disruption they sometimes create. Air Canada, an innovator in pricing schemes, has launched a new “travel assistance” service that provides hotel rooms and even airfare on rival carriers if you pay $25 to $35 extra per one-way flight when you buy a ticket. read more »

Travel Guard Reports Segments Still Traveling Strong.

November 14, 2008 (Travelguard.com) -- Travel Guard reports that despite economic uncertainties, segments of American consumers are still planning and booking travel -- in some cases for trips as far in advance as five months.

Travel Guard data suggests the "empty nester" and Baby Boomer segments of the population may be sacrificing other purchases, but are not willing to give up their "right to travel." Travel Guard reports the average cost of trips covered through the company's plans in September and October of 2008 dipped only slightly compared with the same period in 2007 -- from $2,057 to $2,009.

While many media reports conclude that Americans are staying closer to home, this is not the case for Travel Guard clients. The number of clients traveling outside of the United States has dipped only slightly, from 79.5 percent in 2007 to 78.7 percent in 2008. For more information, visit www.travelguard.com.

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