Displaying items by tag: insurance

Don’t be surprised by higher travel and other insurance premiums. UK providers are under mounting pressure from more and larger claims and bigger injury awards.

A basic understanding of insurance is an essential life skill that should be shared with all young people as they near the end of their schooldays.

A basic understanding of insurance is an essential life skill that should be shared with all young people as they near the end of their school days.

Implications that the UK's decision to leave the European Union may have for skiers and the ski industry are a big unknown, says MPI Managing Director, Michael Pettifer.

Speaking recently at two trade events – Ski Launch and Listex – he said no immediate change was likely, other than the fall in the value of the pound.

"This will eventually filter through to increased insurance premiums. But there tends to be a lag effect, and it may be next year before premiums rise," he said.

"The European Health Insurance Card (EHIC) is the big unknown – particularly as it is an EEA matter, rather than an EU one. It remains to be seen how this wil be dealt with.

"Should the EHIC right be lost, we will see a significant rise in rates for those travelling to Europe. However, nothing will happen for at least the next two years."

He also reminded holiday companies of their duty, under the Package Travel Regulations, to 'signpost' suitable travel insurance.

"We do not expect any change in this rule when the new regulations become law in 2017.

"But the industry needs to start planning for this over the next six months as more travel companies that are currently exempt may have to comply from next year."

British sailors’ performance in the Olympics, Paralympics and major events such as the Americas Cup will generate fresh interest in sailing – and increase demand for insurance tailored to this branch of water sports.

So says Michael Pettifer, Managing Director of MPI Brokers, specialist provider of travel insurance suited to both sailing and skiing.

“We have seen considerable growth in our summer business since the 2012 Olympics and the excellent results from Rio and elsewhere will undoubtedly add impetus to the trend.

“I am delighted that MPI is participating in the Southampton Boat Show again this year, alongside Sailing Holidays,” he says. “It is the premier showcase for all forms of boating and it fosters the nation’s great sailing spirit. It also enables us to strengthen many contacts across the industry and with the public.”

An experienced sailor and skier, Michael Pettifer provides policies that give customers greater freedom to enjoy their chosen activities.

“For example, most tourist travel insurance policies do not cover racing: we do – for dinghy racing and low-level ski racing,” he says.

And MPI covers all forms of sailing in all Western European waters and up to 12 nautical miles offshore elsewhere. Insurance for further afield is arranged on application.

MPI is a long-standing sponsor of the annual Schools Week at Itchenor Sailing Club and this year, for the first time, also sponsored Junior Week at nearby Bosham Sailing Club.

Additionally, MPI sponsors Team Thompson Sailing – a family of four Surrey brothers, three of whom are already showing promise nationally and internationally in the 420 and RS Tera classes.

PICTURE: MPI's Joanna Scott chats to show-goers on Day One of the Southampton Boat Show 2016.

Team Thompson, the MPI-sponsored foursome of Surrey sailing brothers, is making significant ripples at national and international events.

The sponsorship is part of MPI's commitment to support junior sailors and reflects growing demand for sailing insurance.

This summer, MPI also sponsored Schools Week at Itchenor Sailing Club and Junior Week at Bosham SC. MPI rounds off its 2016 sailing focus this month at the Southampton Boat Show.

Thompson brothers Ross (16) and Johnny (14), from Frensham Pond SC, sailed together as helm and crew in the RYA youth team at the 420 World Championships in San Remo, to become the first GBR boat home in the Under 17 category.

They also took part in the 420 European Champion-ships on Lake Balaton, Hungary, where they were second GBR Under 17 boat home.

Ross later crewed for Alex Smallwood (Datchet Water) in the 420 Nationals at Plas Heli, to take second place. In the same event, Johnny crewed for WIll McMahon (South Cerney), to come 12th.

Third brother, Jake (11), competed internationally in the RS Tera World Championships at Santona, Spain, where he took eighth place in the Sport Fleet. He subsequently took part in the RS Tera Nationals at Pwllheli, where he came sixth in a field of 64.

MPI Managing Director Michael Pettifer says: "The brothers have done well this season and we look forward to even better results next year.

"MPI is very proud to be associated with a team showing so much potential."

PICTURE: With the Union Flag and MPI logos prominent, Team Thompson's Ross and Johnny race to top GBR honours at San Remo.

In the first signs of the coming winter, this month sees two key UK trade events at which ski companies, suppliers and snowsports writers meet to prepare for the new season.
The events are Ski-Launch, in London, followed by Listex, the London Inter-national Ski Trade Exchange, at Hemel Hempstead Ski Centre.
As a leading specialist insurance provider for the travel industry, especially the winter sports sector, MPI Brokers will again be participating in these annual events.
MPI Managing Director Michael Pettifer is a keen skier with more than 50 years' experience. He says: "These events showcase the latest in ski holidays, providing opportunities for providers to talk about new developments as well as the service their reputations are based on.
"This year, we will be promoting MPI's new online purchasing system together with the YourMPI.com portal that enables existing individual customers to manage their insurance from anywhere, at any time and on any device."
The MPI website now also has live snow reports from all the main resorts in Europe.
"These developments are designed to enhance the  travel insurance experience – and complement the in-house claims service we introduced last year.
"I am also reminding ski companies of their duty to 'signpost' travel insurance to their customers." (see next page)
MPI's preparations for the 2016-17 season include the introduction of a dedicated Twitter account – @MPIWinter – and a strong presence at The Telegraph Ski & Snowboard Show, to be held at London's Battersea Park.

Speaking at Ski-Launch, the ski industry’s annual trade and media presentation in London, MPI Managing Director Michael Pettifer said the Package Travel Regulations – enshrined in UK law since 1992 – oblige ski and holiday companies to 'point' their customers to a suitable travel insurance.
Quoting from Holiday Law by Stephen Mason, he said:"Regulation 8 makes it a  criminal offence, if the travel company does not ‘signpost’ customers to a suitable travel insurance."
He also said: "If the new Package Travel Regulations, which are due in 2017, become law we do not expect any changes to this clause.
"MPI will be pleased to give more advice, including an appraisal on booking conditions to which this relates."

Myth busting – MPI explains it all

Force Majeure should not be confused with an Act of God, although there are similarities.
Most T’s and C’s for travel companies will have a clause that removes the company’s liability in the event of Force Majeure or an Act of God. Both are events that are outside the control of the company and thus the law allows them to avoid liability – provided this is shown as an exclusion in the T’s and C’s.
This then shifts the reasonability for any financial loss on to the travelling customer. He, in turn, will be able to obtain insurance for most (not all) events of Force Majeure and Acts of God.
In order to provide customers with a solution to this matter it follows that a prudent travel company will offer or recommend a suitable travel insurance policy – and if its business falls within the Package Travel Regulations it is a legal requirement to do so.
In turn, there is usually a clause obliging customers to obtain travel insurance covering the period from booking to travel (for cancellation), medical, repatriation, personal liability and travel disruption for the duration of the journey. Failure to do so would absolve the travel company of any liability that would have been covered by travel insurance as well events following Force Majeure and an Act of God.
However to arrange insurance for customers requires a licence or an ‘umbrella’ arrangement for compliance with the rules of the Financial Conduct Authority which is why at MPI we have an Affiliate scheme allowing clients to ‘signpost’ customers directly to us without the need to arrange insurance on a bloc basis.
Force Majeure is an event which occurs resulting in disruption of travel plans. These would be sudden, unexpected and not foreseeable at the time of entering into the contract (date of booking).
They are usually following the actions or inaction of parties not connected to the contract for example air traffic controllers on strike or French fisherman blockading Dover. This would also extend to war, insurrection and riots. Some of these events are insurable but not all e.g. war.
An Act of God is any natural event e.g. storm, earthquake or tsunami.
In both examples above these events are known in insurance (and the law) as perils.
So watch out to see which perils are covered under the travel disruption sections.
 At MPI there are two and they cover different situations. In addition, in some cases there may be cover under the cancelation section e.g. your accommodation is taken out by an avalanche or there is an FCO warning.
Why do travel companies not insure this risk?
In MPI’s Newsletter 10 we explain in our Pour Memoir the principle of insurable interest. The travel company does not carry a liability and thus is not able to obtain insurance. They have nothing to insure.
In MPI’s view if this concept did not exist the cost of holidays would be considerably higher as travel companies would need to maintain large reserves to meet any liabilities.