| SIC launches Akwaaba Insurance Policy
The State Insurance Company, a leading insurance service entity in the country has outdoored an innovative insurance policy into the insurance market. The unique web -based policy, known as Akwaaba Insurance Policy, is meant to provide Ghana-bound travelers access to world class excellent medical care and other related medical emergencies whiles in the country. It was also planned to serve as an alternative to the National Health Insurance Scheme for Ghanaian residents abroad planning a visit home. Akwasi Osei Adjei, Minister-designate for Foreign Affairs, in a key note address, noted that the product is a reflection of the benefits that can be realised from effective partnerships between government and the private sector in the goal to grow the national economy, create wealth and deliver essential services and products.
Insurance tips may end travelers’ headaches
But before they do so, the Independent Insurance Agents of Ohio recommends summer travelers review insurance policies with their independent agents to make sure their vacation investment, personal property and identity are properly protected.
Planning a vacation is a big task, but consumers should not overlook one very important issueare they properly insured for this trip should something go wrong? The Ohio Big I recommends taking the following steps before leaving for vacation:
Travel insurance
Consider what will happen if you cancel or interrupt a trip because a family member becomes sick or injured, the airline or cruise line declares bankruptcy or a natural disaster occurs in a city on your itinerary? Travel insurance provides trip cancellation and trip interruption coverage for the pre-paid and non-refundable portion of your trip.
Low-cost auto insurance expands
Californias low-cost automobile liability insurance program will be expanded to nine more counties, including Kings, Madera and Yolo in the Central Valley, the state Department of Insurance says. The other counties entering the program are Solano, Marin, Santa Cruz, Napa, Mendocino, and Lake. The program is expected to go into effect in early September, once rates are set in each of the newly added counties. "Driving without insurance is illegal, and nearly 100,000 motorists in these nine counties are uninsured," says Insurance Commissioner Steve Poizner. "Many drivers simply cannot afford insurance, but uninsured drivers put all travelers at risk. The expansion of this program in nine additional counties will better enable Californians to comply with the law and protect all motorists from potential losses." Motorists driving without insurance can have their vehicle registrations suspended as part of SB 1500, a new law designed to reduce the risk of economic losses sustained as the result of collisions involving uninsured motorists.
Travel: To insure or not to insure?
Do buy travel insurance, say consumer advocates Clark Howard and Ed Perkins. Don't buy travel insurance, says the Consumer Federation of America. Do buy it, says your travel agent. In a database of news articles over the last year about travel insurance, many advised people to buy it, while many others said skip it. With such conflicting information, what should you do? It has become a big issue. More than $1.3 billion is spent annually on travel insurance, according to the most recent figures from the U.S. Travel Insurance Assn. Typical coverage costs 4% to 8% of the cost of the trip, based on the length of the trip, the destination, the traveler's age and the type of coverage. So, coverage for a $3,000 trip might cost $120 to $240.
|
