Tuesday, August 23 2011 14:49

Insurance company "Cascade Insurance" launches a new tourist product


ArmInfo. The insurance company "Cascade Insurance" has announced about issue of a new tourist product - insurance of local tourism. As the company reported, the coverage on this tour-product includes compensation of expenses of medical aid in case of incidents and sudden disease. The insurance promises an insurant to take him to the hospital or repatriate his body from abroad to the place of his residence for dumping.

The cost of the insurance policy depending on the insurance sum (sum of coverage) starts from 540 drams per day and ensures insurance of citizens under 70 at the territory of Armenia and Nagornyy Karabakh Republic.

According to the Ranking of Armenian insurance companies prepared by Arminfo, the total volume of premiums for insurance of the people which left for abroad in the 1Q 2011 reached 483.9 mln drams which is by 10 times more versus 1Q 2010. The share of "Cascade Insurance" in the total volume of premiums was 7.1 mln drams with almost threefold growth versus 1Q 2010. The volume of the insurance compensations on the given type of insurance amounted to 31.4 mln drams for the 1Q 2011, which is almost threefold more versus the 1Q 2010. The compensation payments of "Cascade Insurance" amounted to 1.876 mln drams with threefold growth. According to the results of the 1Q 2011, the share of the company in the gathered premiums was 7,75% out of the market.

The insurance company "Cascade Insurance" has been acting at the local market since October 2005.
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