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IAG cuts earnings forecast

Written by , 29 April, 08, 5:34 PM
Insurance company IAG has cut its earnings forecast, blaming the impact of high storm costs and market conditions in the UK.

IAG rejects QBE merger proposal

Written by , 29 April, 08, 5:34 PM
Shares in Australia's biggest general insurer, Insurance Australia Group (IAG), have surged on the Australian Stock Exchange after confirmation of a takeover approach from QBE.

Flood recovery task force to meet insurers

Written by , 29 April, 08, 5:34 PM
The Central Queensland Recovery Task Force will meet representatives from the insurance industry next week to discuss issues raised by the community after floods earlier this year.

MP worried ambulance costs may stop sporting events

Written by , 29 April, 08, 5:34 PM
There are fears the high cost of ambulance coverage will put future Upper Hunter sporting events at risk.

Members to vote on .4b MBF merger

Written by , 29 April, 08, 5:34 PM
Australia's biggest private health insurer, MBF, says another key milestone has been reached as it prepares to merge with the local arm of the global healthcare group BUPA.

Travel Insurance

Travel insurance is not merely an income earning exercise on behalf of the travel insurance company. With the rising costs of medical and hospital assistance in most countries, plus the cost of international evacuation, travellers needing to draw upon these resources while they are away could face crippling financial strain for years to come.

In addition, the Australian Government state travel insurance is needed and, should they be required to assist overseas travellers, full recompense will be required.

Domestic Travel Insurance

Domestic cover provides protection for travel anywhere within Australia, including Norfolk and Lord Howe Islands. There is no medical component for hospital and doctor expenses as Australian citizens and permanent residents are covered by Medicare, however, it is advised to have a minimum of accidental death, luggage and personal effects and additional emergency expenses. Companies may provide different alternatives.

International Travel Insurance

International cover may be divided into single trip, for a once only journey up to one year, usually with the option to renew while still overseas, or multi-trip cover for travel a number of times within a year.

Full emergency evacuation, medical and hospital cover plus Personal Liability are critical and the cover may include dental and additional cash. It is advisable that non-medical travel insurance should include trip cancellation and lost deposits, travel delay and alternative transport, lost cards, cash, cheques and documents.

Medical Only Insurance

This is regarded as cheap travel insurance for those on a strict budget, who are not travelling with expensive luggage and equipment and are not locked into pre-paid tours or events.

Medical insurance covers emergency evacuation, medical and hospital expenses and very often emergency dental, repatriation of remains and Personal Liability. Depending on the company, other components may be included.

Comprehensive Travel Insurance

This level includes all the components of Medical cover and incorporates extras such lost and delayed luggage, credit cards, cheques, documents and cash, delayed and alternative travel, trip resumption, accidental death, loss of income, disability and more.

Some policies also include care of domestic pets should return travel be delayed, and domestic assistance if the insured returns home injured.

Comparing Travel Insurance Quotes

With the variety of options available consumers should compare travel insurance policies and obtain a travel insurance quote from a variety of companies.

Online travel insurance has been growing in popularity over several years due to the convenience, including renewing online, and the lower premiums. Purchasing travel insurance direct from the travel insurance company is also a more cost effective option.

 

Travel Insurance Articles