Tuesday, 23 September 2014
Don't Drink and Holiday!
Don't drink and holiday!?
Perhaps your travel insurance firm believes so when assessing your claim?
According to the UK Financial Ombudsman Service, the body that regulates the financial services industry, some insurers are seeking to reject claims due to alcohol having been consumed.
According to the FOS, most travel policies have a clause that enables the companies to reject a claim in the event that an accident happens after excessive alcohol consumption, but it reports that some claims are being rejected if you have been drinking at all beforehand.
The FOS requires that insurers show why a particular clause in the policy applies, and that it's not up to the policyholder to show why it doesn't. While the FOS won't always agree with an aggrieved policyholder, and in such cases it will explain why on balance it does not, according to their website there are an increasing number of cases when it forces the Company to pay out. Read more....
Unfortunately this seems to show that insurers are looking for a way out of honoring genuine claims submitted to them, but also that perhaps in some cases the policy holders may not be exercising reasonable care when they're on holiday.