Global passenger traffic results for November 2014 show a continuation of the healthy demand trend of recent months. Total revenue passenger kilometers (RPKs) rose 6.0% compared to November 2013, which was ahead of the 5.7% year-over-year growth recorded in October as well as the 10-year average growth rate of 5.6%. November capacity expanded by 5.4%, leading to a 0.5 percentage point rise in the load factor to 76.7%. Growth was driven primarily by domestic markets which experienced a 6.9% increase in demand over the previous November (an acceleration over the 5.3% year-to-date average for domestic travel).
November 2014 data for global air freight markets showing that demand measured in freight tonne kilometers (FTK) grew 4.2% compared to November 2013. Capacity grew by 3.3% over the previous November. Compared to October 2014, air freight demand expanded by a healthy 0.8%. The most significant growth was recorded by carriers in the Asia-Pacific and Middle East regions, at 5.9% and 12.9%, respectively.
Cigna’s new comprehensive travel insurance provides mature customers with peace of mind and sense of security when travelling away from home. Cigna announced today its entry into the travel insurance market, with the new Cigna 50+ Travel Insurance designed specifically with the mature traveller in mind. Cigna already provides travel insurance through partner companies, but this is their first travel insurance product under the Cigna brand.
Status Global Insurance are excited to announce the ground-breaking launch of the specialised travel insurance product, Fit-4-Travel, which offers comprehensive cover, with no upper age limit to UK citizens residing throughout the EU, who have extensive pre-existing medical conditions. Many insurance companies aren’t able to provide travel insurance for pre-existing medical conditions, or if they do you end up paying an absurdly expensive premium. This can leave travellers’ well-being, and wallets dangerously exposed if they have a flare-up of an existing medical condition when abroad. Arranged in partnership with International Travel and Healthcare Ltd Fit-4-Travel provides a reasonably priced product that will cover a very wide range of pre-existing medical conditions.
A joint pulse survey between Aon Hewitt, the global talent, retirement and health solutions business of Aon (NYSE: AON), and Catalyst for Payment Reform, an independent, non-profit employer coalition pushing for better value in U.S. health care, shows that while employers find alternative provider delivery models and payment reform attractive, most admit they do not understand them or the value they provide. As a result, they may miss a significant opportunity to lead and improve results (health and financial) for their workforce and business.
Impact Forecasting has launched its Annual Global Climate and Catastrophe Report, which evaluates the impact of the natural disaster events that occurred worldwide during 2014. The report reveals that 258 separate global natural disasters occurred in 2014, compared to a ten-year average of 260 events, causing a combined total insured loss of USD39 billion – 38 percent below the ten-year average of USD63 billion, and the lowest annual insured loss total since 2009. The two costliest insured loss events of the year were both a result of severe thunderstorms, in June (Europe: USD3.0 billion) and in May (United States: USD2.9 billion). Meanwhile, global economic losses from natural catastrophes in 2014 stood at USD132 billion – 37 percent below the ten-year average of USD211 billion. The September flood event in northern India and Pakistan resulted in the largest economic loss of the year, causing an estimated USD18 billion in damage and representing the fifth consecutive year that Pakistan has registered a billion-dollar flood event.
Aon Risk Solutions has released its second Health Care Workers Compensation Barometer report. The report explores trends in frequency, severity and overall loss rates related to workers’ compensation for approximately 1,150 heath care facilities across the country. The 2014 report projects workers compensation loss rates will decrease one percent annually. The Health Care Workers Compensation Barometer report also shows that frequency of workers compensation claims has been slowly and consistently decreasing at the same one percent level over the ten year experience period analyzed.
Allianz Worldwide Partners and The Co-operators have announced the completion of the merger of their respective Canadian travel insurance companies. The merger of Allianz Global Assistance Canada and TIC Travel Insurance Coordinators, first announced in September, has created one of the largest travel insurance providers in the country, operating as Allianz Global Assistance. The combined entity will leverage the strengths of the two organizations to offer industry-leading products and services for Canadian travellers and visitors to Canada.