An ever changing market
The start of 2015 continues to be challenging for travel insurance companies across Canada. As with 2014, the declining value of the Canadian dollar, extreme weather patterns, and medical inflation in the United States are prompting Canadian insurance companies to adjust their rates in the face of these market pressures.
Market leaders plan ahead
- We are constantly looking at trends in the medical and travel marketplaces. This enabled us to be prepared, anticipating increased claims costs and a further declining Canadian dollar.
- We took steps in 2014 and adjusted our rates to place ourselves in a more stable position for 2015.
RSA is more competitive since the industry has reacted
- Over the past few months, twelve competitors have introduced substantial rate increases and some have limited benefits and increased deductibles.
Commitment to helping your travellers, every step of the way
- We pride ourselves on having a claims denial rate far below the Canadian travel insurance industry average of 5%1.
- We are “Traveller Obsessed” and are committed to taking the travellers’ eye view in our product development and claims handling.
2014 ITIJ Travel Insurer/
Underwriter of the Year
1Source: Travel Health Insurance Association (THiA) November 2014