 Poster: A snowHead
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Just looking at renewal of my annual travel insurance and note that I have the option to add natural catastrophe cover for an additional £20.
Strikes me that although a number of insurers will have been caught paying out on the volcano last year there is a certain amount of profiteering going on with premiums that are well in excess of the pro-rata incremental risk for what is a pretty low likelihood event. Are insurers looking at this type of thing as a profit opportunity given how fresh volcano etc is in everyone's mind?
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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| fatbob wrote: |
| Are insurers looking at this type of thing as a profit opportunity given how fresh volcano etc is in everyone's mind? |
perish the thought!
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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Insurers looking at a past event as a profit making opportunity? Never!
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It would be quite tricky for them to prove that the dust clouds were a natural catastrophe. Lava falling on your house fair enough, but the clouds are just a localised increase in the dust levels that planes were unable to deal with, not really a catastrophe. They would find a way though.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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Yeah ok maybe naively worded given the generally philanthropic nature of the insurance industry but stood out as a rip off among the otherwise relatively competitive quote 
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You'll need to Register first of course.
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Some clever insurer should make an insurer insurance, so that if an insurer tries to screw you, you are insured.
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| fatbob wrote: |
| Strikes me that although a number of insurers will have been caught paying out on the volcano last year... |
But they didn't because, in the majority of cases, it wasn't covered. It was the airlines and tour operators who paid out. Airlines in particular were (and still are) responsible for paying your reasonable expenses incurred in getting home and I believe they are still handling claims. Really it's the carrier that needs the insurance in my opinion.
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Bode Swiller, I thought a number of insurers decided to allow claims where transport providers had failed to come through mainly for PR purposes. Agree though that its the airlines' problem. (I note I can also pay an extra premium for scheduled airline failure - surely this is what I also pay for in every ticket I buy )
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