Joint effort to assist elderly travel insurance buyers

Forthcoming initiatives will help older travellers be able to find ample travel insurance, officials said this week.

Travel Insurance News - 09/04/2012

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The joint effort by the UK government and leading travel insurance providers is designed to make it easy for pensioners to buy car and travel insurance by requiring brokers providers to refer the elderly to other agencies should they be unable or unwilling to provide cover due to age restrictions.

The move by the Association of British Insurers (ABI), the British Insurance Brokers’ Association (BIBA) will also allow older travellers to make use of the BIBA’s signposting service, dubbed “Find a Broker”. Officials said that the BIBI are to be responsible for publishing older travellers enquires whilst the ABI will be responsible for publishing associated data.

ABI director general Otto Thoresen said to reporters that the industry was looking to make sure that elderly travellers are able to find the best deals and the best cover by having full access to the travel and motor insurance markets. He added that the new agreement proved the industry was willing to work with ministers in the effort of improving transparency whilst still allowing providers to fairly assess prices according to risk.

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