Wednesday, April 15, 2009

Over 130,000 Ski insurance Claims Made Annually

Leading travel insurer InsureandGo has identified the top five skiing insurance claims and estimates that their value totalled some £66m. InsureandGo also estimates that UK travel insurers received over 130,000 skiing-related travel insurance claims last year.
By far the greatest estimated number of claims was for medical problems such as injury or illness, totalling nearly 89,000 – or over two-thirds of the total claims. The next biggest area was compensation for skiers’ “ski packs” – the cost of the ski school or instructor which comes with their holiday – which accounted for over 30,000 claims. “Ski pack” claims are typically due to skiers being unable to take advantage of the ski school or instructor because they were injured or ill.
In terms of the value of these claims, those linked to medical treatment were estimated to be around £61.3 million, followed by £3.1 million for ski pack compensation. The value of the average medical-related claim was around £690 compared to £491 for all claims. Average claims for some aspects of insurance appear to be less than the average cost of policies.
For ‘Ski pack’ claims – ie compensation for ski school or ski instructor which the person can’t use due to illness or injury there was an estimated 30,650 claims averaging £102.77with an estimated total of £3.1m paid.
Lost, stolen or delayed luggage claims totalled an estimated 10,350 with an average payment of £82.24 and a total of £851,200.
For ‘Ski hire’compensation for cost of hiring equipment to replace lost, stolen or delayed luggage there were an estimated 1,900 claims averaging only £23.45 with a total payment of £44,600.
There was an estimated 1,450 claims for flight cancellations averaging £292.82per claim with a total pay out of £424,600.
Most skiing claims to InsureandGo come from travellers in France, followed by Austria and Switzerland.
Gary Lockett, managing director of InsureandGo, commented: "Our list shows that medical problems are by far the biggest risk when it comes to skiing holidays. Many of these are due to injuries caused on the slopes which can be very expensive to put right, especially if you are unable to take yourself off the mountain, underlining again just how vital it is for skiers and snowboarders to have adequate travel insurance".