New Yorkers Can Obtain Annual, Worldwide Insurance Protection for Travel Emergencies
WARREN, NJ, October 6, 2005 – Signature Passport, which provides worldwide insurance protection for travelers during an annual policy period, is now available in New York.
Offered by the Chubb Group of Insurance Companies, the policy covers many expenses that are excluded under policies and travel
assistance programs offered through Internet sites and credit card companies.
A key Signature Passport feature is up to $250,000 in coverage for emergency medical transportation to the nearest advanced
medical facility. Emergency medical transportation and a host of related travel services are provided by MEDEX, a leading
travel assistance provider. The annual premium is $365.
“Americans are traveling more, especially to exotic locations, and they’re engaging in more adventurous activities. This puts
them at greater risk of illness and accidental injury,” said Luis Granados, vice president, Chubb & Son, and worldwide Signature
manager, Chubb Personal Insurance. “Travelers need to consider how they would handle a medical emergency such as a fractured
pelvis in a foreign country, where language barriers and limited access to advanced medical facilities may create a perilous
situation.”
A recent nationwide survey of 1,585 people found that 26% ski, 14% mountain climb, and 20% participate in “other potentially
dangerous activities” while vacationing. In addition, the Chubb-sponsored survey by Impulse Research of Los Angeles concluded
that 73.5% of the Americans surveyed said their greatest concern when traveling is suffering a medical emergency (e.g., broken
bones, heart attack, other sudden or serious injury or illness). That concern is more than double the fear of being mugged
(30.7%), three times the fear of being injured in a terrorist attack (23.4%) and 10 times the fear of being sexually assaulted
(7.6%) or being abducted (7.2%).
More than half the respondents (55.3%) are most concerned about incurring a serious injury while traveling. Nearly one-third
(32.5%) are worried about serious illness, and 12.2% fear a heart attack or stroke. Nearly 13% have required hospitalization
while traveling, and more than 15% of survey participants have had to cut a trip short for a medical reason. An overwhelming
92.4% of those surveyed said that if they experienced a medical emergency while traveling overseas, they would want the option
of transferring to a U.S. or other advanced medical facility.
Signature Passport offers business and leisure travelers insurance protection that far exceeds typical travel insurance policies.
“Credit card companies frequently only provide coordination of emergency medical transportation; they may not pay for the
transportation. Evacuation by air ambulance can cost more than $100,000,” explained Granados. “In addition, Chubb’s policy
will help pay for a variety of associated services from transporting a loved one to the location where the insured is hospitalized
to locating translation services, securing legal assistance and providing minors with escort and repatriation.”
The services are easy to use and apply to every trip an insured takes during the annual policy period, added Granados. “With
Signature Passport, the customer never needs to notify Chubb or fill out cumbersome paperwork prior to traveling. In case
of a covered emergency, the traveler only needs to call MEDEX 24/7 via one of its toll-free telephone numbers or collect from
anywhere in the world and help will be on the way,” he said.
Other policy highlights include:
• Excess medical expense. This coverage pays up to $50,000—with no deductible—for medical costs incurred as a result of an
accident or illness if the insured is traveling outside the United States at the time of medical treatment. Many health insurance
companies often take weeks or months to reimburse medical providers for covered services. MEDEX, on the other hand, will pay
the medical provider “on the spot”—which is critical in countries such as Mexico, where payment in full for all medical services
is required before the patient can be discharged. Unlike other travel accident policies, Signature Passport will pay for complications
during early pregnancy and emergency room costs even if the person is not admitted at the time for treatment.
• Accidental death and dismemberment. This coverage provides protection for travel that takes place on chartered or other
aircraft not owned or leased by the insured; private, chartered or commercial watercraft; and common carriers (plane, train,
taxi or bus). Credit card companies typically only offer this coverage for common carriers. Insurance benefits for the insured
and their spouse are covered up to $100,000 per person and up to $10,000 per child.
• Trip Delay. If the insured’s trip is delayed 12 or more hours in any place due to inclement weather, hijacking, a natural
disaster or a terrorist act, the policy will pay a maximum of $500 a day per covered person for up to three days for the cost
of food and temporary lodging until travel becomes possible.
“Everyone needs to be concerned when traveling abroad, especially affluent individuals who tend to travel more frequently
and to more exotic locations,” said Granados. According to the 2004 American Express Platinum Luxury Survey, 68% of the affluent
have taken at least one personal trip in the last 12 months, and two-thirds of that group takes an average of six personal
trips a year. The 2004 Virtuoso LuxeReport survey notes that 42% of affluent travelers seek active or adventure-type vacations.
Seventeen percent of affluent travelers felt the hottest adventure travel activity is an African safari.
“With the trend to take more trips to exotic locations and participate in more adventurous activities, affluent travelers
need to seriously consider the health and safety risks they face while abroad. Chubb’s Signature Passport is there to help
travelers should a trip go awry due to illness, injury or an unfortunate situation,” said Granados.
Chubb launched Signature Passport in 21 other territories late last year and earlier this year. They include Arizona, California,
Colorado, Delaware, the District of Columbia, Indiana, Illinois, Maine, Michigan, Minnesota, Missouri, New Mexico, Nevada,
Ohio, Oklahoma, Rhode Island, Tennessee, Texas, Utah, West Virginia and Wisconsin.
MEDEX, which began helping travelers and expatriates in 1977, is a leader in the travel assistance and international medical
insurance marketplace. The company covers more than 8 million travelers worldwide and maintains a provider database of more
than 400,000 assistance resources for all 239 of the international country codes. In 2003, MEDEX fielded some 30,000 calls
for help from travelers in 191 countries. To learn more about MEDEX, visit www.medexassist.com.
A leading insurer of custom, historic and other fine homes, Chubb also is noted for providing highly-regarded insurance products
and services for luxury automobiles, fine arts and antiques, and other valuable possessions. Additional information on Chubb’s
personal insurance offerings can be found at www.chubb.com/personal.
The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property
and casualty insurance for personal and commercial customers through 8,000 independent agents and brokers worldwide. Chubb’s
global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia.
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