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| Press Release Archive |
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Insurers in diabetes scam: |
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Date: Tuesday 1 April 08
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| Diabetics across the UK could be wasting up to £185m* in unnecessary travel premiums according to Karma insurance – one of the UK’s leading online travel policy providers. |
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| There are some 2.3million diabetics in the UK and Karma research reveals they are being offered quotes for cover that are four times more expensive than its own. Managing Director, Brian Wright, believes insurers are openly discriminating against diabetics and is lobbying for change. |
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| Karma insurance automatically includes a number of pre-existing medical conditions such as diabetes and does not require applicants to undertake medical screening. During a recent mystery shopping exercise, Karma was not only top for its premiums but provided one of the most comprehensive policies, offering legal expenses and cover for all age ranges, including those aged 70 and over. |
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| Brian comments: “Insurers are running a scam to get more money out of people who don’t meet their ‘one size fits all’ criterion. People with pre-existing medical conditions are more aware of their own bodies and how to look after them than the average person on the street, so why should they be penalised? In the majority of cases, their conditions are under control and pose no threat, yet diabetics frequently have to endure a lengthy and intrusive medical screening process and pay higher premiums.” |
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| According to data specialists, Defaqto, more than 20 million customers purchase travel cover every year, swelling insurers’ coffers by some £670m per annum. Financial Services Authority research shows that 78% of those buying travel insurance say there’s too much jargon, 70% hate shopping around and 53% believe it’s too complicated to compare on a like for like basis. |
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| Brian says Karma addresses these issues: “We don’t do jargon, provides simple cover details, it’s easy to purchase via credit card or a High Street pay point and because diabetics don’t have the luxury of being able to compare quotes, unless they’re up to a day or two of answering medical questions, we’ve done it for them.” |
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| Karma reports that the difference between its travel policy, a single trip quote of £26.06, based on two adults (one with type 1 diabetes mellitus) and two children travelling to Cyprus for two weeks in August 08, and the most expensive, Direct Line at £106.16, is £80.10. |
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| Brian concludes: “How can insurers justify these costs? The level of intrusion via the screening process and resultant premiums are horrendous and these are meant to be either specialist or ‘trusted brand’ insurers. And this is before we’ve looked at non-internet providers who are widely recognised as being even more expensive. I’m glad that at least we provide cover with a conscience and suggest the insurance industry is in danger of falling foul of the Disability Discrimination Act.” |
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