TRAVEL insurance is one of those products that few travellers pay attention to, whether they are begrudgingly buying a policy or relying on cover provided through top-end credit cards.
For that reason, travel insurance remains one of the most complained about financial products in Australia.
"It's about 18 per cent of all our work for what would be a small partner in the insurance portfolio," insurance industry ombudsman Sam Parrino says.
"That is a lot of work for us."
In the first half of 2007 there were 2,574,787 travel policies issued, which amounted to about 8.5 per cent of all insurance policies on issue, according to the Insurance Ombudsman Service.
There were 169,329 claims made and 14,713 rejected by travel insurers, 8.6 per cent of the total.
While these figures sound large, the good news is that fewer claims are being rejected than in 2006, which saw a 228 per cent increase in travel insurance claims.
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