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BIDVEST INSURANCE TERMINATES TRAVEL PRODUCT

Date published 11.09.2017

BIDVEST Insurance has discontinued its travel insurance products, effective September 8. All policies sold prior to last week’s cut-off date will be honoured but the company said no new sales would be made.

The company said the move was mainly as a result of changes to legislation and, in a notice of withdrawal to trade partners said: “Alongside being offered by travel agents, travel insurance is now often provided as an embedded benefit in a bank card or medical aid. this has requirements and certain conditions for the way travel insurance should be sold. As a result, and to ensure compliance with legislation, the demand on travel agents has increased tremendously.”

• See the upcoming October issue of TIR for the full story and for more updates from the Forex & Insurance sector, available at www.tir.co.za from the 1st.


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