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Travel insurers stump up £5.3m per week

Published: 22/07/2010 by Comments

According to an Association of British Insurers (ABI) study, last, the travel insurance industry forked out a total of £274million to holidaymakers who fell ill or had an accident.

Over the year, a total of 366,000 overseas treatment claims were submitted, a 300% increase over the last five years, according to industry figures.

Although the numbers showed a 15% fall in the trips abroad, the number and amount of claims was the highest since ABI started collecting data on travel insurance travel insurance claims in 2000.

ABI figures show that the cost of medical expense claims had jumped up by 270% in the last five years. Medical treatment now represents 60% of all claims paid by travel insurers, a number that stood at 33% five years ago.

The most common ailments that people required treatment for while abroad were stomach upsets, ear infections, allergies and heart problems.

Insurance claim cases ranged from £49,000 paid out to cover the cost of a coronary artery bypass and an emergency flight back to the UK for a man who fell ill in the US, to the £9,000 required to cover the medical costs of a woman who fell victim to a severe allergic reaction while on her Cyprus holiday.

ABI’s director of general insurance and health, Nick Starling, said that given the high cost of overseas medical treatment, it is important of traveler to make sure they have good travel insurance travel insurance cover.

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