Insurers See Millions In Claims By Travelers New York Times
While there can be some exclusions, companies have typically covered nonrefundable prepaid travel that can pay stranded passengers $150 to $250 a day for a maximum of $1,500.
Industry officials said travelers in Iceland might be covered under clauses for natural disasters if the volcanic effects washed away roads there.
“Thousands of our customers have been affected,” said Daniel Durazo, director of communications for Access America Travel Insurance and Assistance, “and we expect to pay out up to seven figures in travel insurance-related claims.”
Jim Grace, the president of the US Travel Insurance Association, said that the figure cited by Mr. Durazo could be “across the board or larger” for the industry. “Industrywide it is larger than 10 million,” Mr. Grace said. “This will be a significant claims event for the insurance industry.”
About 30 percent of American travelers buy a range of insurance policies that cover cruises , flights and the delays or cancellations that are caused by inclement weather and sometimes natural disasters like earthquakes or extraordinary storms. About $1.6 billion is paid in premiums every year in travel insurance, but figures for loss exposure are harder to come by in an industry that guards its losses.
ABC NewsHealth Insurance - Obama style young people who would rather spend their money on other things - like a morning latte or two or going on vacations to Europe or a "singles" Carribean Cruise or doing some else that is equally exciting - instead of purchasing health insurance. Video: Health Care Reform Falls Out - Bloomberg Fix health care -- now Perspectives: America's healthcare debate: Public option means -
CBS NewsPoll: Most Back Public Health Care OptionFew support -- and many are unsure about -- some other specific policy options that have been proposed, including creating a government insurance pool for purchasing health coverage. By two to one, Americans disapprove of taxing employer health
