There are many factors that are affecting the travel insurance industry at the moment, from an increase in fake claims to the economy itself.

Fraudulent travel insurance claims from customers could be increasing as a result of the credit crunch, experts have warned.

Fraudulent travel claims have increased by 80% it has been revealed. Many customers are reportedly pretending that personal belongings such as iPods and cameras have been stolen overseas, whilst other customers to increase the value of an offer that was previously stolen.
The Association of British Insured stated that its members have defiantly witnessed a rise in fraud: "People are looking for ways to increase what they believe in easy money." There are however a small number of prosecutions for crimes, as it is very difficult to prove.

In contrast, there are concerns that young people will go for their first parent free holiday uninsured. Approximately 100,000 young people are notHave insurance when they go on summer break.

It has not been exposed to that are in a high percentage of the 500,000 young people who go on their journey could be satisfied, while other insurance will be invalid, you take through its irresponsible behavior.

An example of this is that 45% of adolescents is thought to drink too much on their first holiday without supervision. E 'was also found that Britons were arrested in 1500 in SpainBehavior is dangerous and could even become a serious accident.

It was noted: "The first parent free holiday can be a great experience, but because of their age and their newfound freedom, young vacationers as one of the most vulnerable. We encourage the youth to be prepared and stay safe for their can be a holiday to remember for All The Right Reasons. "

It is estimated that about 20% have not completed all British citizens who travel insurance to go on holidaycover before they jet off.

More recently, the credit crunch has seriously provided a huge knock back for travel insurance. At present, it was announced that the UK's third largest package holiday group is no longer for trade.

The fact is that these companies are particularly vulnerable in times of recession. If the public feel the economic burden, since they are present, tend to leave in the background. With added pressure from sky high fuel prices rapidly, andFreezing of global credit markets have contributed to the demise of travel companies.

From today, hundreds of passengers stranded due to the implosion of travel companies that people are waiting with bated breath, get help from the government, and if sufficient insurance protection for the industry to those customers who, in good faith in the soundness of company booked.

If the regulation of insurance sector in the travel industryis too light, then customers end up being financially penalised when business fail. However, if commercial insurance schemes are too expensive, then customers cannot afford this type of travel insurance, so end up with less choice.

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