RIYADH, 13 June 2005 — NCCI has introduced a new pricing structure for its international travel insurance policy, reducing the rates by five to 15 percent. It is in line with the EU regulations requiring mandatory international travel insurance for visitors to the member countries.
Millions of Saudis and expatriates are expected to benefit from the concession as the summer travel season gets under way. The Travel Insurance policy is to protect them during their trips abroad, including domestic travel when that is part of the international trip, Ahmed Al-Shalan, NCCI’s group marketing manager, told Arab News.
European Union member countries have declared that those wishing to visit Europe must present a travel insurance policy, covering the period of stay. The policy must be presented with other relevant documents when applying for a visa to the embassies of these counties in Saudi Arabia. The official said other countries are considering stipulation of a similar clause in the visa regulations.
Prices start at SR115 ($31) per traveler on international flights operating from Saudi Arabia to anywhere in the world except the United States and Canada. For those wishing to have the US and Canada included in the policy the rates start at SR175 ($47).
Explaining the new pricing structure to Arab News, Al-Shalan said: “The restructuring of the price made it possible to reduce the minimum coverage period for short trips from five days to nine days, thus adding greater flexibility to the plan.”
He pointed out: “The travel insurance policy is available for short-term periods covering Saudis and expatriates during international vacations or business trips for up to six months. NCCI also offers annual coverage for frequent adult travelers for SR 525 ($140) per head.”
In the new insurance rate structure, NCCI offers children (2-15 years age group) traveling with their parents a special price of SR315 ($84). Children under two years accompanying their parents are included in the policy for free.
The NCCI Travel Insurance policy addresses problems that Saudi and expatriate travelers face during vacations or business trips abroad. The coverage includes travel delay, curtailment and missed departure, lost baggage, delayed baggage, medical inconvenience and loss of personal effects. The policy also covers personal accidents with a cumulative benefit of SR100,000 ($26,667), and emergency medical treatment up to SR3 million ($800,000) plus hospital stays. As for personal liability, the policy indemnifies up to SR2 million, including the legal expenses for the liability resulting from an accident caused by the insured and leads to death or accidental bodily injury to a third party or loss of or damage to his/her property.