As the holiday season approaches and Britons rush to get travel insurance to cover them while abroad, the protection provider Friends Provident is urging people to protect themselves for life, not just while on holiday. New findings reveal that only one third of Brits (31%) have some form of protection cover in the event they become ill or are unable to work, but a massive 81% take out or have travel insurance when they go abroad. This is despite the main reasons for taking out travel insurance (cover against accident or illness and for peace of...  Lire la suite

The British Insurance Brokers’ Association (BIBA) has won the Commercial Initiative award at the prestigious Trade Association Forum Best Practice Awards. BIBA in conjunction with Tokio Marine Europe Insurance Ltd have developed a personal travel insurance policy for its members to sell. The product has proved a great success over the three years that it has been offered, providing families with high quality, low cost travel insurance which has helped reshape the UK travel insurance market. The result is a win situation. The public benefit through...  Lire la suite

Sri Lanka on Thursday welcomed the lifting of a US warning against travel to the Indian Ocean island, anticipating a boost to tourism and investment a year after a bloody civil war ended. “This is something we have been looking forward to,” tourism bureau chief Dileep Mudadeniya said. “It will have a knock-on effect on (travel) insurance rates and also encourage more business travel from the West.” The US announcement came soon after the first anniversary of the defeat of Tamil Tiger rebels in a brutal military offensive...  Lire la suite

New Zealand has warned travellers of an “extreme risk” of terrorism in India highlighting New Delhi, the venue for the October Commonwealth Games, as a target. The travel warning, reviewed Saturday, followed similar advice from the US embassy in India which said there were increased indications of imminent attacks. The New Zealand government said there was a significant terrorist threat in India and “heightened concerns that terrorists are planning attacks in New Delhi.” “New Zealanders are strongly advised to avoid...  Lire la suite

The price of insurance for the aerospace industry looks set to continue to decline in 2010, for the fourth year in a row, finds Aon’s Aerospace Insurance Markets Outlook 2010 report. After 2009′s turbulence, this represents an oasis of relative calm for airports, aerospace manufacturers and support companies. 2009 saw the continuation of decreasing of steady rates for insurance in the aerospace sector: • Airports: 2% decrease in average cost of premium Reduced exposure to risks, including falling passenger numbers have played a significant...  Lire la suite