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NOVEMBER 2019 • ISSUE 226


ESSENTIAL READING FOR TRAVEL & HEALTH INSURANCE PROFESSIONALS


FEATURE


P.50


THE COOLEST KID ON THE BLOCK Is it hip to be insured?


FEATURE


P.60


PAY THE PRICE NOW, NOT LATER


Should travel insurance cost more?


FEATURE JUST A NUMBER


Meeting the challenge of insuring an ageing population


EC closes book on Spanish controversy


The European Commission has archived a complaint made by Spanish Private Hospitals Association regarding British travel insurance policies


The EC has decided against further investigating complaints put forward by the Spanish Private Hospitals Association (ASPE – Alianza de la Sanidad Privada Española), indicating that a lack of evidence to support the complaints means that it is not an EC issue, but one that should be dealt with by national authorities. In its letter to ASPE, seen by ITIJ, Rossella Delfino of the EC states: “The Commission does not consider these allegations to be a breach of European Union law.” Delfino goes on to state that, as such, the complaints will be archived by the EC, but that if ASPE considers that the issue is ongoing, to appeal to the relevant authorities in the UK that deal with financial regulation of insurance companies.


Accusations fly The Association asserted back in 2017 that some British tourists were buying private travel insurance policies that were not fit for purpose in Spain, in that they did not actually cover the holder for medical treatment in a private hospital.


CONTINUED ON PAGE 6 Travel insurance disparity in the US


A new study from travel insurance comparison site Squaremouth has revealed that the majority of US travel insurance expenditure in 2019 is coming from just five states


It turns out that California, New York, Florida, Texas and Washington are responsible for almost 50 per cent of all travel insurance


purchases in the US. And more striking still, the figures show that Californians spend twice as much as any other state, expending more on travel insurance in the past year than residents of the next two top states combined. And what are they purchasing this travel insurance for? According to the study, the top international destination for Californians was Mexico, and the average trip cost for a


Californian resident fell to around $3,548. Elsewhere, while New Yorkers hover around the top of the list in terms of total travel insurance spending, they have the second lowest average trip cost of all US states at $2,909 (West Virginia takes the crown at number one). This might have something to do with the fact that


CONTINUED ON PAGE 14 CONTINUED ON PAGE 6


P.66


Sexual harassment rife at Lloyd’s


A damning survey into the culture of sexual harassment at Lloyd’s of London has revealed that at least one in 10 employees have witnessed sexual harassment over the past year


The extensive independent survey was carried out following a number of complaints about a culture of sexism and bullying at the London insurance marketplace. Indeed, ITIJ reported on the issue earlier this year, after a report from Bloomberg into sexual harassment at Lloyd’s led to the 333-year-old institution announcing an action plan intended to reduce levels of drinking, which it believed were a major factor in instances of sexual misconduct. Unfortunately, it does not appear that this action plan is yet having the desired effect. The Banking Standards Board carried out the survey, which was open to responses from all of the nearly 50,000 individuals who work at Lloyd’s; around 6,000 people participated, suggesting that the real numbers could very well be significantly higher than


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