Tag Archive | "travel insurance"

Australian travel insurance estimates volcanic related insurance claims over 8 million

Australia’s largest travel insurance provider said on Monday the company expected claims relating to the volcanic ash cloud over Europe to top more than 8 million Australian dollars (About US$ 7.35 million).

Cover-More Travel Insurance Australia chief executive David Ferguson said travelers who purchased their policy before April 16 will be covered.

“With the magnitude of the disruption of flights we expect claims to exceed 8 million Australian dollars and this number will continue to grow as the period of disruption extends,” Ferguson said in a statement.

Cover-More, whose policies are sold through travel agencies such as Flight Centre, Harvey World Travel, STA Travel, Travelscene American Express and Travelers Choice, has been receiving more than 2,500 calls a day from customers anxious to find out whether they are covered.

Ash from eruption of Iceland’s Eyjafjoell volcano last Wednesday has stranded millions of air travelers across the world after European airports were shut down.

An enormous cloud of fine mineral dust particles has now stretched from the Arctic Circle to the French Mediterranean coast, and from Spain into Russia.

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Why was travel insurance invented?

Over the years the risks of travel have changed. In the 19th century, stage coaches were attacked by bushrangers, sailing ships were shipwrecked. The losses of possessions and life were a peril of travel. These days, bandits attack tour buses and medical crises occur on cruise ships and in faraway places. But today, we have travel insurance to cover the losses.

What does travel insurance really cover? Is the cost of travel insurance worth the cover it provides for the losses? Would we miss it if travel insurance was never invented? Read the full story

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AIG Travel Guard Launches ‘Adventure’ Travel Insurance Plan

Today’s active vacationers require complete coverage in pursuit of their next once-in-a-lifetime
activity. AIG Travel Guard http://www.travelguard.com, a leading provider of travel insurance and assistance plans, has launched an adventure travel insurance plan that provides coverage for many activities excluded in most travel plans, including bungee jumping, mountain climbing, sky diving and motor sports.

Adventure travel continues to be one of the fastest-growing segments of global tourism. Understanding the unique and rapidly changing interests and perspectives of adventuresome people is critical in serving this growing market.

“Adventure travel continues to be a high growth area for American tourism,” said John Noel, AIG Travel Guard’s chief executive officer. “Adventure travelers need coverage that the typical traveler does not — that’s why we created this special niche plan. Not only does it include insurance coverage, it also has a special hotline that’s a great resource for adventuresome travelers.”

The Adventure Travel Protection Plan offers a range of coverage, including coverage for participation in athletic events, motor sports, mountain climbing, aircraft flying and air travel including sky-diving and hot-air ballooning. The plan also provides a 24/7 Adventure Traveler’s Hotline* which offers weather reports and travel advisories, assistance locating trails and rafting locations, information on access issues, construction and detour information and locations of nearby gear shops, guides and outfitters. The plan also offers optional Cancel for Any Reason coverage and optional Car Rental Collision coverage. Read the full story

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