There are many factors that have an impact on the travel insurance at this time, the increase of false statements to the economy.

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

Fraudulent travel claims increased by 80% was revealed. Many customers are apparently pretending that things personal, such as iPods and cameras were stolen abroad, while other clients increase the value of an item that was stolen.

British Association stated that it guarantees its members defiantly witnessed an increase in fraud: “People look for ways to raise what they feel is easy money”. However, there is a low number of prosecutions of the crime, because it is very difficult to prove.

In contrary to that, there are concerns that the teenagers who will go on unpaid leave its first parent uninsured. Around 100,000 teenagers will not have insurance, if they go beyond the summer break.

It was exposed on a large part of that 500,000 young people who go on their travels will not be covered, while others may be to take out cancellation of their insurance through their own irresponsible behavior.

An example of this is the fact that 45% of teenagers are thought to drink too much on their first vacation without. It was also stated that 1,500 Britons arrested in Spain because of dangerous behavior that could lead to a serious accident.

Stated: “Your first parent-free holiday can be a rich experience, but because of their age and new found freedom, fledgling holiday-makers may be one of the most vulnerable groups. We encourage children to be prepared and stay safe holiday so they can one to remember for all the right reasons. ”

It is estimated that approximately 20% of all Britons who go on vacation do not take out travel insurance before the jet off.

Recently, the credit crunch seriously provided a huge knock-travel back to insurance companies. This has now revealed that in Great Britain in the third-largest package holiday group ceased trading.

The fact is that such companies are particularly vulnerable in times of recession. When the public feel the economic strain, because they are at the moment, the holidays tend to take the back seat. With added pressure from fuel prices rocketing sky high and freezing of global credit markets all contributed to the collapse of the journey.

With hundreds of travelers now abandoned because of the disintegration of the travel business, people are waiting with baited breath for help from the government, and whether its system of regulating insurance sector can adequately protect customers who have booked in good faith in the soundness of the company.

If insurance regulation of the sector in the tourism industry is too light, and then customers end up financially penalized if the business fails. However, if commercial insurance schemes are too expensive, and then customers can not afford this kind of travel insurance, so we need less choice.

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