As exchange rates continue to fluctuate, adequate protection from your Travel Insurance can help cover amplified costs of medical bills and emergency repatriations abroad. Recent figures of claims made by Coutts clients exemplify this; from September 2014 to October 2016, total Travel Insurance claims have been settled in excess of £6.2 million. Of this, over £3.2 million covered the cost of holiday cancellations, whilst medical expenses accounted for £1.9 million of claims.
Indeed these statistics make for stark reading; however, they become somewhat more important when we consider the costs an uninsured client could incur in the U.S.A – the most sought after destination of Coutts clients based on the total incurred claims for the same period. An air ambulance from Florida to the UK, in the event of serious illness or injury, can cost up to £55,000, whilst an air ambulance from San Francisco or Los Angeles can add a further £20,000 to this total. Furthermore, with the ski-season now upon us, it is also worth bearing in mind popular European destinations, where a helicopter evacuation from the European pistes can cost up to £30,000.
Our Coutts Travel Protection*, which has been rated 5 Star by Defaqto, provides peace of mind with cover for emergency medical expenses and cancellations, as well as cover for unforeseen eventualities such as baggage or passport loss. With no upper age limit, cover extends to the protected client, clients partner and dependent children under 18 years of age and living at home or those within full-time education up to the age of 23 years old. Discover more about Coutts Travel Protection or speak to your dedicated Private Banker.
*Travel Insurance is underwritten by Cigna Europe Insurance Company S.A.-N.V. and Loss Damage Waiver Insurance is underwritten by White Horse Insurance Ireland dac.
19 Jan 2017If you ask UK entrepreneurs for their view on Brexit, no two answers will likely be the same. For Michael Hayman MBE, the decision to leave the EU means both a challenge and an opportunity for British business. “There has never been a more exciting opportunity for business to make a difference that really matters,’” he says.
17 Jan 2017Our January Ask the Investment Team call focused on investing in fixed income against a backdrop of rising inflation and central bank rates. We were joined by veteran bond investor Ian Spreadbury of Fidelity International to consider the challenges ahead, including which areas of the bond markets look appealing and which to avoid, opportunities for equity investors in today’s highly valued markets and the prospects for a recovery in sterling.
16 Jan 2017