Travel insurance in Europe: low price/quality ratio

According to a survey of more than 100 insurers, the European Insurance and Occupational Pensions Supervisory Authority (EIOPA), reveals many deficiencies in travel insurance policies.

These latter lead to poor consumer service. Distributed by travel agencies these policies, are subject to excessive fees, sometimes exceeding 50% of the premium, while premium loss ratios are still very low. Hence a low quality/price ratio provided to consumers.

On the other hand, the content of the policies does not always comply with the Union’s Insurance Distribution law. In its report, the EIOPA urges travel agencies and professionals to modify their tariffs and comply with European requirements when it comes to the distribution of insurance products.

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