Changes to travel insurance could raise prices
03 March 2009 07:32
All holidaymakers will be faced with more expensive travel insurance premiums if the Equalities Bill prevents providers from using age to assess risk, it has been warned.
Many feel that travel insurance for over 65's is unnecessarily difficult to obtain at reasonable prices.
However, the Association of British Insurers (ABI) warned that holiday insurance could double in price if the proposed changes come to pass.
A report published by the organisation indicated that 98 per cent of older customers are already able to find travel insurance; a statistic leading it to suggest that the proposed legislation is uncalled for as well as unfair.
Nick Starling, director-general of the ABI's general insurance division, suggested that the industry is "committed to treating people fairly" and opposes any form of discrimination.
He said: "Insurers only use age where it is relevant and restricting their ability to do so would rebound on all customers, through higher premiums and less choice."
Last month, the Daily Mail urged older holidaymakers to shop around in order to ensure that they receive the best-possible cover.