Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


The Highest Travel Insurance Claims of 2012


The Highest Travel Insurance Claims of 2012


Uninsured travellers are placing themselves at risk of medical costs in the hundreds of thousands of dollars, says travel insurance CEO.

Online travel insurer Southern Cross Travel Insurance (SCTI) has released its top 10 highest-value claims for 2012. The most expensive claims ranged from $54,000 to $208,000, and were all the result of Kiwi travellers suffering a serious or life-threatening medical problem while abroad.

The highest claim ($208,000) was from a New Zealander who incurred extensive medical bills while holidaying in the USA.

SCTI CEO Craig Morrison said the claim figures demonstrated the huge financial risks that uninsured travellers take.

Research of 4,400 travellers by TNS over the last financial year found that 31% of those surveyed did not take out insurance. Of the uninsured, 43% said they were “happy to risk not being covered” while 25% also said their reasons for not taking out travel insurance included “being covered by the country’s health system.”

Morrison said some people could be lulled into a “false sense of security” by the limited reciprocal healthcare agreements New Zealand holds with Australia and the UK.

“The fact is these agreements do not cover all costs that arise when an accident or emergency medical situation occurs – such as ambulance travel, medical support and flight costs for repatriation to New Zealand, or bringing a family member out to support you. For example, if you broke your arm in Australia and the break required a cast, you would also require a nurse to accompany you on the flight home in case of swelling that necessitated cast removal. This service alone would cost thousands of dollars for an uninsured traveller.”

Southern Cross Worldwide Assistance manages cases that require medical evacuation and emergency transport by air ambulance on a regular basis. They most often facilitate air ambulances to transport seriously ill travellers back to New Zealand from the Pacific Islands, where limited medical care is available - a cost which often exceeds $70,000.

“In July there was a highly publicised case where a Perth-based New Zealander travelling in Thailand incurred over $80,000 in medical and evacuation bills because his Australian travel insurance policy did not provide cover for injuries suffered while riding a scooter,” said Morrison.

“It is essential that travellers are careful to read their insurance policy, and understand what it does and, just as importantly, doesn’t cover them for. For example, many policies provide cover for skiing on designated runs in commercial ski areas, but they may not cover skiing off-piste. So if you decided to head into the back country and then broke your leg, you wouldn’t be covered for costs related to that accident.”

The most expensive medical-related claim received by SCTI in recent years was in 2010 when a traveller to the USA incurred over one million dollars in medical expenses after falling critically ill.

Ten highest claims for medical expenses and evacuation/repatriation costs in 2012

Amount Country where claim originated
1 $208,000 USA
2 $151,000 Mongolia
3 $114,000 Samoa
4 $110,000 Bali
5 $84,000 USA
6 $72,000 USA
7 $59,000 Fiji
8 $57,000 Thailand
9 $56,000 France
10 $54,000 Peru
ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Extended Warranties: Godfreys Fined For Agreements It Sold

    New Zealand Vacuum Cleaner Company Limited (trading as Godfreys) was today fined $58,000 in the Manukau District Court after earlier pleading guilty to 10 charges relating to its extended warranty agreements. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news