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Private joint-stock company TAS Insurance Group (TAS IG (private) has been intensively working in travel insurance for 9 years now. TAS IG (private) paid for losses to its clients under travel insurance contracts to Ukrainian citizens traveling abroad and in Ukraine almost UAH 2.8 million, up 17% from 2008.

Viktoriya Raspopova, head of the Travelers Abroad Insurance Division of the Medical and Personal Insurance Department at TAS IG (private), said: “We provide travel insurance coverage of different types, both for foreign ansistance services via two assisting companies: Remed Assistance that provides coverage for travelers in Turkey and Egypt, and Mondial Assistance LLC that helps travelers in other countries all over the world.

As per statistical data most insured events are registered in Turkey and Egypt. This is due to the fact that the main flow of Ukraine vacationers prefers those countries. In 2009, about 1400 insured events occurred in the two countries. The largest loss amounts under three insured events were from $5,000 to $10,000. Expenses equal to the sum insured were reimbursed for the emergency assistance to an insured child. TAS IG (private) paid around $9,000 for the treatment of a woman with a cerebrovascular decease. The expenses related to that event included the organization of medical assistance and transportation. The insured woman, upon recovery, was delivered to Ukraine accompanied by another person, and was put to a local hospital to continue her treatment. Another large loss amount related to rendering assistance to an insured in connection with a lower limb fracture and transportation of the man to Moldova.”

Turkey takes the lead in the quantity of calling in aid under TAS IG travel insurance contracts. Egypt is on second place, then go Bulgaria, Poland, Germany, the Czech Republic, Austria, Israel and Greece. The US and Thailand round out the top 10.

The largest loss amount paid to a client under travel insurance in 2009 was as a result of an insured event occurred in the United States and equaled about EUR 50,000. Almost EUR 5,000 was paid for the treatment of an insured that had been admitted to a Thailand hospital with a complicated peritonitis.

The most expensive medical services are in the US and Germany, which is due to their quality and a special nature of granting medical aid. In particular, Germany uses a DRG system according to which expenses for medical services are calculated on the basis of a diagnosis made taking into account various parameters: age, sex, state of decease severity, complications, etc.

In total, the TAS IG (private) loss ratio under travel insurance was 54% in 2009. The average loss amount was UAH 1,400.

Artur Shaimukhametov, First Deputy Chairman of the Board at TAS IG (private) said: “The travel insurance market slightly reduced in 2009, because the number of tourists decreased as well. In spite of that, about 200 thousand travelers became policy-holders at TAS IG (private). Loss aamounts under travel insurance types increased, which was due to the growth of prices for health care services. Another last-year trend was a decrease in the organized tourism and a growth of business and private tourism when clients organized their trip abroad and bought a policy by themselves. But the share of income from tour operators who provide trips to Turkey and Egypt persists to be rather significant. We hope for the improvement of the situation about tourism in 2010. For our part, we’ll keep on enhancing this type of insurance and develop co-operation with tour companies.”