Holidaymakers Urged To Read The Fine Print
The Sunday Age
Sunday December 10, 2006
AUSTRALIA'S corporate watchdog is warning holidaymakers to be careful when taking out travel insurance.
The Australian Securities and Investments Commission said complaints about travel insurance were increasing and there was a need for travellers to read the fine print.ASIC spokesman Greg Tanzer said the number of complaints to the Insurance Ombudsman about travel insurance had jumped from 296 in 2004-05 to 410 in 2005-06. He said the claims that were most often denied were about policy conditions or exclusions."Comparing different travel insurance policies might save you money as well as some nasty surprises," Mr Tanzer said."Don't just chase the cheapest policy without checking exactly what it covers you for."Hospital admissions and medical evacuations can be expensive but one in four Australians never buys travel insurance.
© 2006 The Sunday Age