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 NewsWe need national health careAs far back as Harry Truman in 1945, presidents have toyed with the notion of finding a way to provide every American with health insurance. So far, no one has even come close to accomplishing that. Meanwhile, every other industrialized nation has Video: Health Care Reform Falls Out - Bloomberg What health care crises? The Finance Committee's "Comprehensive Incrementalism" -
