With the autumn school holidays nearing, people are keen on using the opportunity to go for a sunny rest to the “warm countries”. The data summarized by BTA Baltic Insurance Company (BTA) indicate that the volume of insurance premiums written to customers willing to be secured against potential and unexpected trouble during travel has nearly doubled this year, compared to the same period a year ago. The most popular travel destinations this year have been Spain, Greece, Turkey, as well as more exotic countries, such as Thailand.
The average Travel insurance indemnity for a single accident abroad paid by BTA last year was 230 euros, this year – 255 euros. From travellers in the autumn season last year, BTA most often received insurance claims for medical expenses (55%) – various illnesses, injuries and related medical treatment during the trip. BTA has also received insurance claims regarding lost or stolen luggage (12%), and for flight delay or cancellation (14%).
“When going on a trip, especially when with children coming along, you should not forget about a security cushion allowing spending the trip without a worry. Data collected by BTA indicate that most often people during travel encounter sudden virus infections, cold. When selecting a Travel insurance policy, you should consider the likelihood of potential risks at the travel destination, the activities you are going to pursue and the risks they entail. We have observed that inhabitants of all three Baltic countries increasingly often choose a policy cover that is effective only for the time of travel, whereas to company staff going on business trips frequently we suggest considering a cover for the entire year,” says BTA Insurance Claims Handling Department Director Kārlis Liepiņš.
Travellers during trips, apart from sustaining various injuries, quite often, due to their carelessness, cause losses to others. For instance, a BTA customer in Thailand swerved off road while driving a rented motor scooter, and the rented vehicle was damaged as a result. The losses were covered by the obtained travel insurance policy, as the customer had also included the third-party liability insurance risk in his Travel insurance policy, which protects travellers against various losses that may be caused to another person or another person’s property. Also, when the travel destination has been more exotic, there have been cases when people get bitten by monkeys, lizards and snakes, and poisoning by food uncommon to travellers.
BTA Baltic Insurance Company is one of the leading insurance companies in the Baltics, offering the broadest range of non-life insurance services in Latvia, Lithuania and Estonia. BTA employs more than 1,000 employees in the Baltics. The largest shareholder of BTA is Vienna Insurance Group AG with 200 years of experience in the insurance industry. More than 50 companies in 25 countries constitute the group, which employs 25,000 employees. Vienna Insurance Group AG is a clear leader in its core markets in Europe maintaining high rating of financial stability – Standard & Poor’s A+ (stable outlook), with a listing on the Vienna and the Prague Stock Exchange.
Marketing and Public Relations Department Director
BTA Baltic Insurance Company AAS