TRAVEL SURE: A GOOD TRAVELER HAS TRAVEL INSURANCE!

It is a good idea to insure the entire cost of your trip, so that in case something arises either before or during your vacation, your insurance company can step in and provide for whatever you need.

SAMIA KHURSHID
Dec 11 - 17, 2006

You are traveling to a foreign land for a few weeks, spending thousands of rupees; the trip should be splendid--unless your plans come to a screeching halt due to a sudden illness or some other emergency. If you were smart enough to purchase travel insurance, your plans might be ruined but at least you would be able to avoid a financial disaster.

Even though travel insurance is not essential for most domestic trips, it is a brilliant idea for expensive and long overseas trips. The coverage can protect you if you have to cancel your trip at the last moment. Travel insurance can also help you contain some unexpected medical expenses and perhaps the costs associated with an emergency trip back home.

In the excitement and euphoria of planning the trip, people hardly focus on this issue, particularly if they are healthy and fit.

Today things are changing; increasing numbers of travelers are making travel insurance part of their vacation plans to help them deal with the unexpected. According to the estimates by insurance companies and experts, travel insurance typically runs less then 8 percent of your total trip cost.

WHAT IS TRAVEL INSURANCE?

Travel insurance is an umbrella term that covers accident and sickness insurance and also typically covers baggage loss and medical evacuation; the amounts of such coverage vary with each policy.

Travel insurance usually protects you for amounts above what your actual plan will pay or would have paid if you were faced with an unforeseen situation in a foreign country. Usually insurance companies offer travel insurance and 24-hour assistance services to give travelers peace of mind during and after their journey.

WHO SELLS TRAVEL INSURANCE?

Travel insurance is mainly offered by travel agents, but it is also possible to purchase a policy through general insurers. Selecting the right policy is not always easy. An insurance agent can be of great help in finding a policy that is just right for you and your family.

WHAT IS COVERED BY TRAVEL INSURANCE?

A basic travel insurance policy may cover lost luggage, personal liability in case you injure someone or something, overseas hospital and medical expenses, and evacuation back to your home country. It may also cover additional costs incurred due to an accident, illness or delay.

Medical costs are a major consideration. Medical care is particularly expensive in most countries -- for instance, the USA and European Countries. Similarly, if you get involved in an accident in a foreign country the costs you face can be astronomical.

IGI INSURANCE - TRAVEL SURE

After more then fifty years in business, International General Insurance (IGI) is known for its financial strength and stability, superior customer service, and persistent operational excellence. IGI is an experienced operator of established insurance plans and anticipates that its corporate culture will continue to evolve in response to changes in our industry. Keeping this in mind International General Insurance (IGI) has introduced Travel Sure - a comprehensive travel insurance policy.

WHY IGI TRAVEL SURE?

Travel Sure Insurance Policy is the most comprehensive travel insurance plan tailored according to customers traveling requirements.

This travel plan offers you cover for a maximum of 30,000 Euros for the entire duration of your stay, giving you the insurance protection that fits your needs by providing you comprehensive coverage for accidental death and emergencies, hospitalization, emergency evacuation, personal liability and assistance services.

IGI Travel Sure is the only travel insurance plan that is approved by and widely accepted in all Schengen Countries.

Travel Sure gives you the freedom to avail medical benefits at foreign facilities without having to pay the bills. Customers can have a 24-hour complete access to International SOS Pte. Ltd, which will guide and support them during all emergencies. Some of the free assistance services offered by IGI Travel Sure are:

* Telephone Medical Advice
* Medical Service Provider Referral
* Arrangement of Hospital Admission
* Medical Translation Service
* Delivery of Essential Medicine
* Arrangement of Compassionate Visit
* Arrangement of Return of Minor Children
* Arrangement of Accommodation
* Interpreter Referral
* Lost Luggage and Passport Assistance.
* Legal Referral
* Emergency Travel Service Assistance
* Emergency Interpreting Assistance
* Embassy Referral
* Emergency Document Delivery

International General Insurance (IGI) offers a variety of insurance products to meet all types of travel needs. Travel Sure provides cover for Single Trip and Multi Trip (One Year) for families and individuals, with choices between Regal, Royal, Imperial and Majestic Policies; each offering a variety of services and costs. Depending upon the product you choose, there are a number of benefits you can enjoy with travel protection from Travel Sure. With these travel insurance plans you have the liberty to create your own customized travel insurance package.

MARKET CAPITALIZATION OF ORDINARY SHARES (Million Rupees)

2006

SECTOR

FEB.

MAR.

APR.

MAY.

JUN.

JUL.

AUG.

SEP.

OCT.

Insurance

54,957.5

57,885.3

59,511.8

60,707.1

58,517.48

60,664.9

61,066.2

62,914.2

69,077.6

Source* SBP

Innovation continues to be a trademark of International General Insurance (IGI); the Company has its attention focused on meeting the changing needs of travelers. Keeping in view the fact that everyone has different travel insurance needs and a package that suits others may not suit the more senior travelers, IGI has recently launched the Senior Citizen Travel Insurance Plan; this is a unique travel insurance plan offered for the first time in Pakistan. Being older than the average traveler is one area where 'over 65s' or senior citizen's travel insurance can provide more benefits than standard travel insurance. Travel Sure - Senior Citizens' Plan is a policy especially designed for travelers over 65.

IGI Travel Sure for Senior Citizens is an affordable travel insurance policy devised for travelers aged between 65 & 75, providing essential cover for hospitalization expenses as well as protection against loss of baggage and passport, accidental death, death repatriation and emergency evacuation.

SECTORAL SHARE IN GROSS DOMESTIC PRODUCT (AT CONSTANT FACTOR COST)

 

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

B  -  SERVICES SECTOR

Finance & Insurance

3.1

3.5

3.3

3.4

4

4.6

A comprehensive Travel Insurance Policy gives you financial protection against travel associated risks. You are therefore covered before you set off and also during your holiday. Travel insurance, particularly for senior citizens, or those over 65 years old is recommended for holidaymakers and frequent travelers to cover them in case of loss or theft of contents; or hospitalization. International General Insurance (IGI) provides coverage for hospitalization and medical assistance, like Telephone Medical Advice and Arrangement of Hospital Admission, baggage loss and damage, and emergency services.

Therefore, it is advisable that before you take that next international business trip or family vacation for you and your family, make sure you are covered in case of emergency. Exploring insurance options and policies for travelers may save you from irritation and monetary hassle in the future.

International General Insurance - IGI has an enviable reputation for highly competitive prices as well as an unparalleled level of personal service. Today, IGI is providing travel insurance and travel advice to people traveling to all corners of the globe.

Since 1953, International General Insurance (IGI) is providing comprehensive risk management facilities to a number of distinguished local and multinational business concerns through a network of branches in Pakistan. The Company underwrites all types of property and casualty insurance: fire, marine, motor and miscellaneous. This has helped make IGI one of the fastest growing insurance specialists in the country.

LIST OF PRIVATIZATION TRANSACTIONS CURRENTLY INCLUDED IN THE
PRIVATIZATION PROGRAME OF PRIVATIZATION COMMISSION

TRANSACTIONS/UNITS

INSURANCE

National Insurance Corporation

Pakistan Insurance Corporation

State Life Insurance Corporation