Criticism for T5 lost baggage insurance policies
Friday, 18 Apr 2008 09:53
A number of travel insurers have criticised competitors for changing their policies on cover for lost baggage at Heathrow Terminal 5.
Go Travel Insurance underwriting director Andy Taylor described the move as "bizarre".
"To leave your customers high and dry when confidence is at an all-time low is just extraordinary.
"The opening of T5 has of course been difficult in many ways, but now is the time for insurance firms to step up and act as a reassuring voice amid the chaos, not one that is adding to the misery and confusion," he commented.
Mondial Assistance spokesman Steve Hook also slammed the policies.
He believes insurers are expected to 'anticipate' risk, rather than 'react' to it and said the withdrawing of cover by some companies is a knee-jerk reaction to sensational reporting rather than based on proper commercial analysis.
It sends a message to customers that "we're only interested in your premiums and not your claims", he added.