ISOLA DEL GIGLIO, Italy—Insurers continue to count the cost of the Costa Concordia cruise ship disaster and attorneys are preparing class action claims on victims’ behalf, but experts say the impact of the tragedy on marine insurance rates is not yet clear.

The loss of the 126,214 ton ship, which ran aground Jan. 13 off the island of Giglio, Italy, shortly after setting sail on a Mediterranean cruise with 4,200 people aboard, could become the largest marine insurance loss on record, experts say.

The largest insured loss to date was the 1989 Exxon Valdez disaster, which cost insurers about 500 million, including extensive pollution costs.

At least 16 people died when the ship struck a rock and capsized. L Full post…

Innocence is bliss, isn’t it? Well, maybe. But certainly not when it comes to travel insurance unless your idea of bliss is paying thousands of pounds of bills out of your own pocket because you made a mistake with your travel insurance.

Let us explain so you can stay safe on your travels.

When it comes to taking out a travel insurance policy, declaring your medical conditions is essential. It’s the only way to get a policy that you can trust. Senior travellers are relatively tuned in when it comes to declaring conditions. But

Full post…

In 2010 we bought a Peugeot 308 from our local dealer, Motorhaven Hastings, and the car is still under warranty. Last June I was getting out of the car when a gust of wind threw the car door open, damaging the hinge. It was replaced at a cost of £85 by the Peugeot technicians. I paid up, but told the garage I thought it should be covered by the warranty. Several friends and colleagues have agreed with my view.

I have since contacted Peugeot’s customer relations department, told them of my dissatisfaction and asked for a refund. I suggested the hinge wasn’t up to the job if a gust of wind could damage it. Instead of a refund, I was offered an £85 discount on my next service.

I hope you will contact Peugeot on my behalf. I

Full post…

Getting caught on the hard shoulder without breakdown cover this summer could cost motorists six times as much as paying for an annual policy.

Drivers could be in for an expensive shock this summer if their car breaks down and they don’t have cover in place.  

New findings from the AA show that arranging one-off emergency assistance from a garage costs up to six times that of annual roadside assistance.

Last year, those without cover spent £172.67 on average calling out a garage and getting their car fixed. This compares to basic breakdown cover which you can get from as little as £30.

Full post…

WASHINGTON – A proposed rule issued by the Federal Deposit Insurance Corporation recognizes state regulation of mutual insurance holding companies while providing insurers with greater certainty and clarity, the National Association of Mutual Insurance Companies said today.

“The FDIC is right to propose that mutual insurance holding companies continue to be under the jurisdiction of state regulators, and not treated separately from other insurance companies,” said Charles M. Chamness, president and CEO of NAMIC. “NA Full post…

Weve had some really amazing entries for this months My World First competition. There have been tales of camel kissing, AK47s, communist countries, ice hotels, the Amazon, a kiss from Olly Murs, stolen underwear and a fling with a diving instructor. And thats just the start! The best news is that theres still time to enter and give yourself the chance of winning a Kindle.

As you might have guessed, the theme for our travel writing competition is world firsts. Get it? We want to hear about your first-time travel experiences.

Full post…