Q. I am moving to Australia for a year next month. I keep finding long term travel insurance sites but they are mostly from the UK. They have really fair prices and it's quite discouraging seeing the difference compared to American prices. Any suggestions?
A. http://www.moneysupermarket.com/travel-insurance/
http://www2.postoffice.co.uk/travel/travel-insurance/annual-multi-trip-travel-insurance?campaign=google_tvl_generic&kw=travelinsurance+co+uk+Broad&RMGPOPPC=post+office+-+travel+insurance&campaignid=PPC_TI
http://www212.americanexpress.com/dsmlive/dsm/int/au/en/personal/insurance/travelinsurance_pr.do?vgnextoid=1f2034c68f3bd110VgnVCM200000d0faad94RCRD
Search american travel insurance australia on google, also try ask.com and previous questions like this one on here
Hope this helps :)
http://www2.postoffice.co.uk/travel/travel-insurance/annual-multi-trip-travel-insurance?campaign=google_tvl_generic&kw=travelinsurance+co+uk+Broad&RMGPOPPC=post+office+-+travel+insurance&campaignid=PPC_TI
http://www212.americanexpress.com/dsmlive/dsm/int/au/en/personal/insurance/travelinsurance_pr.do?vgnextoid=1f2034c68f3bd110VgnVCM200000d0faad94RCRD
Search american travel insurance australia on google, also try ask.com and previous questions like this one on here
Hope this helps :)
How can I set up my own Travel Insurance Company? (and will someone give me a few million to help me start off?
Q. I would like to start my own travel insurance company to help people with pre-existing medical conditions, how do I do it then!?
How do I go about setting it up? In the UK? How much capital will I need? Is it impossible? How did the other big guys start up? aaaggghh
How do I go about setting it up? In the UK? How much capital will I need? Is it impossible? How did the other big guys start up? aaaggghh
A. Mbrcatz's answer is irrelevant and incorrect for the UK (or most of the world for that matter) ..... you've hit the nail on the head, it's all about capital and you need tens of millions to do what you are talking about and the start up costs are HUGE... don't forget you'll need accountants, claims professionals, compliance and complaints officers etc etc BEFORE you can sell a single policy. I reckon you'd do better than a million in staff costs before you collected a penny in premium. (60 staff avg £50k a year..which is laughably cheap staff costing in the UK ins market... for 4 months = £1m)
You also need to be able to cope with a catastrophe from day 1... an insurer has to be able to survive a 1 in 200 year event. That is.... what is the WORST thing that could happen (even if it happens only once every 200 years). In the case of travel it's usually a epidemic which traps a lot of sick people abroad.
How did the big guys start ? Good question..... most of them can trace their history back donkeys years and raised the capital by issuing shares (and increasing that capital over the years) or in the case of Lloyds forming a syndicate of indivduals willing to risk their personal wealth.
Remember you can't 'borrow' money to do this as a loan or loan stock doesn't count as capital (I won't get into Tier1 Tier 2 technicalities).
So forget all that nonsense about hiring actuaries and lawyers... your best bet would be to approach existing companies (or a Lloyds syndicate) with your idea and say ..... "how much do you want to carry this niche market risk". They have their own actuaries etc and as long as you presesnt a serious proposition in a professional manner they WILL listen to you and it won't cost you a bean. You may get a 'binder' type policy (i.e. a special one written just for you) which allows you to underwite risks (within certain parameters obviously) on their behalf. That way they take an awful lot (though not all of the start up costs away) if your business is successful then in 10 years you'll have enough of a track record to go to market and raise the capital to underwrite the business yourself.
I admire your ambition.... but trust me starting an insurance company from scratch is a non starter... not even banks do it, they buy existing insurers (RBS - Directline etc).
If you are really serious and you want to discuss further, drop me a line I'd be glad to point you in the right direction.
You also need to be able to cope with a catastrophe from day 1... an insurer has to be able to survive a 1 in 200 year event. That is.... what is the WORST thing that could happen (even if it happens only once every 200 years). In the case of travel it's usually a epidemic which traps a lot of sick people abroad.
How did the big guys start ? Good question..... most of them can trace their history back donkeys years and raised the capital by issuing shares (and increasing that capital over the years) or in the case of Lloyds forming a syndicate of indivduals willing to risk their personal wealth.
Remember you can't 'borrow' money to do this as a loan or loan stock doesn't count as capital (I won't get into Tier1 Tier 2 technicalities).
So forget all that nonsense about hiring actuaries and lawyers... your best bet would be to approach existing companies (or a Lloyds syndicate) with your idea and say ..... "how much do you want to carry this niche market risk". They have their own actuaries etc and as long as you presesnt a serious proposition in a professional manner they WILL listen to you and it won't cost you a bean. You may get a 'binder' type policy (i.e. a special one written just for you) which allows you to underwite risks (within certain parameters obviously) on their behalf. That way they take an awful lot (though not all of the start up costs away) if your business is successful then in 10 years you'll have enough of a track record to go to market and raise the capital to underwrite the business yourself.
I admire your ambition.... but trust me starting an insurance company from scratch is a non starter... not even banks do it, they buy existing insurers (RBS - Directline etc).
If you are really serious and you want to discuss further, drop me a line I'd be glad to point you in the right direction.
What are the requirements for purchasing travel health insurance?
Q. I'm not asking for myself, but on behalf of someone else.
Is it true that, in order to purchase travel health insurance, you must already have health insurance?
What is the best way to get affordable travel health insurance?
Please no rude or mean answers... I appreciate any constructive advice that you can give. Thanks!
Is it true that, in order to purchase travel health insurance, you must already have health insurance?
What is the best way to get affordable travel health insurance?
Please no rude or mean answers... I appreciate any constructive advice that you can give. Thanks!
A. For international travel, you can get very good plans at lower rates than you can get for domestic plans. Plans like the Atlas Travel Insurance plan offer protection like lost luggage, emergency evacuation, repatriation, and ad&d benefits in addition to the medical insurance benefits.
I am mainly a medical insurance agent so that's why I offer the plans, but you can get them online in minutes and get your card emailed to you instantly. You only need your passport number and the dates of your trip, and you can pay with a credit card.
Specifically to answer your question, you don't have to have any other insurance to get this, but this insurance won't cover pre-existing conditions.
I hope this helps.
I am mainly a medical insurance agent so that's why I offer the plans, but you can get them online in minutes and get your card emailed to you instantly. You only need your passport number and the dates of your trip, and you can pay with a credit card.
Specifically to answer your question, you don't have to have any other insurance to get this, but this insurance won't cover pre-existing conditions.
I hope this helps.
What is the AAA travel insurance policy on refunding a trip?
Q. My boyfriend booked a trip to Vegas for next month and I don't think we will be dating by then. I put it under my AAA member number and he paid with his credit card. We picked the travel insurance they offered where you can cancel your trip for any reason and get a refund. Now my question is, Since he paid, can he cancel my part of the trip or since I'm the primary AAA member listed, can he only cancel his? I will still want to go.
A. Call the office you booked through. If he paid, he will be stuck with any penalties even if you are the member. Do you still want to go? Ask can you do a name change and pay him for the new person going. Although if airline tickets are involved you may just need to cancel and rebook.
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