Back in the dark ages there were actually people who chose to travel, without ever thinking about taking out travel insurance but, let’s face it, you would have to have hot lava rocks in your head to do that today.
We all want to know that we would be covered if we were to experience a serious medical emergency in a foreign country. The last thing we need is to be tripped up by the fine print at the bottom of the insurance agreement we believe has us covered.
The news that the travel insurance industry is about to become much more transparent to customers will be welcomed by many. Having a clearer idea of what your insurance covers can only be a good thing.
So from January 1, 2016, all Insurance Council of New Zealand members will be following the new industry-regulated code of conduct. One of the main changes to existing regulations will be a requirement to act ‘fairly’ and ‘reasonably’ when customers fail to disclose pre-existing medical conditions or disclose other information.Under current regulations, insurers can decline a claim under certain circumstances that may be legal, but many see this as unfair. For example, if someone had a stroke while on holiday, but forgot to declare a sprained wrist – insurers can currently decline the claim, a practice that is legal but not fair.
Another inclusion in the new code are timeframes insurers will have to stick to for processing claims, which will provide consistent communication and help keep customers happy. The Insurance Council believes these improvements to the current code will help prevent relatively small omissions on application forms affecting customer cover.
Here at Worldcare, we are ahead of the game. We have a comprehensive policy for dealing with pre-existing medical conditions and ensuring we get the right information from our customers. The Healix is our online assessment tool, designed to help our customers share any pre-existing conditions with ease at the point of sale.
So with the new code coming in to help customers, taking out a travel insurance policy will become a lot simpler. The confidence that you have the right policy can only help you enjoy your trip that little bit more.