Travel insurers change stance on ‘new for old’ strategy
Travel insurers are changing their stance on ‘new for old’ strategies with 82% of policies covering possessions on an ‘indemnity’ basis according to the latest research by Defaqto.
Indemnity means the insurer will compensate based on the second-hand or market value of a lost or stolen item and that can mean a person making a claim receiving considerably less than he or sheOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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