| Travel Lawyer highlights black hole in Travel Insurance Cover
In giving a presentation to the Diploma Travel Annual Conference last Saturday on the Gold Coast, Travel Lawyer, Anthony Cordato, highlighted the black hole that exists in Travel Insurance cover. What we are talking about is that if a traveller visits certain high-risk countries, then they are not covered for medical and hospital expenses, medical evacuation, financial loss (including cancellation and trip disruption) and accidental death or total permanent disability, Cordato says. Its like using a mobile phone when driving, as soon as you enter some areas, there is no coverage. The black hole is the exclusion found in Travel Insurance policies that you did not follow advice in the mass media of a government or other official bodys warning against travel to a particular country or parts of a particular country.
Medical insurance brokers urged to think globally
Intermediaries who ignore the growing demand for private medical insurance (PMI) policies to include an international dimension could lose business to their competitors, Allianz Worldwide Care's chief executive has warned. Ron Buchan said the traditional distinction between domestic and international PMI is blurring because health cover is related to people rather than places, treatment is increasingly obtained internationally and people who travel frequently for business know where to get the best treatment. Speaking at the Association of Medical Insurance Intermediaries' (AMII) annual conference, Buchan said: "Multinational companies don't see the distinction between countries and health insurance policies that we see. Higher-end employees want a broader range of cover and this is not affected by the fact that they are French or American." He warned that intermediaries who ignore the trend "could be caught by surprise" because non-involvement will open the door to competitors.
Prairie residents make holiday plans but many don’t plan for ...
As numerous Manitoba and Saskatchewan residents think about loading up the car and heading out of town for a short break this summer, a new survey from RBC Insurance reveals many of them are ill-prepared for the unexpected. According to the RBC Insurance survey, Manitoba and Saskatchewan residents were among the least prepared for vacation mishaps compared to many other travellers surveyed. In fact, only 40 per cent said they have emergency funds set aside for up to three months of their income, and just 44 per cent said they were fully-prepared for medical emergencies. A larger percentage of residents were prepared for having their car breakdown (54 per cent said they were fully prepared) and 55 per cent said they keep an emergency supply kit (first aid, blankets, extra clothing) in their car.
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