On June 2, 2008 the Members of the National Association of Insurance Commissioners (NAIC) announced guidelines that protect life insurance consumers from discriminatory underwriting practices concerning their future travel plans. One of the hot issues in the past couple of years is the practice that some life insurance companies have employed to deny life insurance…
Author: John Cook
Is Flight Insurance, Life Insurance?
Is flight accident insurance really life insurance? From time to time that question comes up. Usually it comes from a traveler who is not in the insurance business and who makes the assumption that because the flight accident insurance pays a benefit based on the death of the insured that it’s a form of Life…
Aircraft Inspections and Travel Insurance
Flight delays and cancellations are in the news right now because of the safety inspections that are being required by the FAA. Questions are being raised as to whether or not there is coverage under travel insurance policies for trips that are being affected. It really depends on the company and plan that a person…
Thank you Mr. Batterson!
A special thanks to J. G. Batterson, founder of The Travelers Insurance Company, for introducing travel insurance into the United States 144 years ago today! On April 1, 1864, Mr. Batterson with several other prominent Hartford, CT businessmen established The Travelers Insurance Company with the stated purpose to insure people while traveling, hence the name…
The first Flight Accident Policy – who bought it and when?
When was the first Flight Accidental Death policy (then known as Aero Trip Ticket policy) sold? And who purchased the first policy? Good questions that probably would have been lost to history if not for “The Travelers 100 Years” published in 1964 to commemorate their centennial anniversary. The answer: President W. Wilson of Washington, DC.…