7 Strange Stories Where Travel Insurance Paid Out

When you’re applying for group or family travel insurance, it is always a good idea to read the fine print before signing anything. Doing so helps you better understand where you are covered and where you are not.
However, there are some events that are simply too strange to be realistically listed down in the fine print. Here are seven of the kookier ones where claims were successfully paid out.

1. Falling Coconuts – A traveller in Sri Lanka was injured due to a coconut falling on her head and was lucky enough to be insured when it happened. This is actually a fairly common problem in the tropical regions, which is why you often see de-nutted coconut trees lining the beaches of resorts and hotels.

2. Buried Treasure – Two well-meaning children in Cornwall took it upon themselves to safeguard the video camera belonging to their parents by burying it in the sand. They unfortunately forgot where they buried it, but the insurers paid out just the same. You may want to expand your family travel insurance to include your gadgets, especially if they’re pricey enough to warrant the extra protection.

3. Rampaging Rodents – One contributor to BusinessBalls.com shared how a client of his broke an arm cycling to work. The reason? A herd of guinea pigs ran him off the road! A local farmer supported his story, telling how his daughter’s guinea pigs escaped and bred to plague-like proportions. You probably won’t get run off the road by guinea pigs, but animals can pose a danger when you’re abroad – large or small.

4. Hungry Rhinos – Speaking of animals, an Australian traveller in Africa volunteered to help out in a local zoo. Unfortunately, the poor man lost a finger when a rhinoceros bit it off completely. It clearly pays not to underestimate animals, whether you’re in the wild or in the confines of a zoo.

5. Fatal Attraction – One young Briton broke his nose while walking into a bus shelter in Athens. He claimed that he was distracted by a group of women in bikinis and, luckily for him, his insurance provider paid out! Sometimes it pays to be honest and straightforward in these cases, although it could be a bit problematic for spouses to use this excuse when it comes to family travel insurance.

6. Best Foot Forward – A traveller in Fiji was trying out spear fishing and in his eagerness, he mistook his own foot for a fish – you can guess what happened afterwards! The provider in this case was gracious enough to cover the accident, which would have been easy to dismiss as a self-inflicted injury if they had been less reputable.

7. No-Show Snow – A woman raring to test out her brand-new skis on the piste filed for a pay-out from her insurance company for a lack of snow when she arrived. Some providers guarantee specific events during the trip, like skiing or horseback riding, so it is worth reviewing the contract to see if you will be covered due to factors beyond your control.

While these stories above sound too strange to happen to you, it is worth noting that they actually happened. You’ll be very grateful for the protection of single or family travel insurance packages if something just as strange happens to you!

Credence Independent Advisors – China’s manufacturing growth witnesses a boost

August 2, 2014 – The figures for July were promising. According to the National Bureau of Statistics; the official Purchasing Managers Index (PMI), which measures activity in bigger factories and is a key to measure sector’s health rose to 51.7 in July from 51 in June. The rise in figures meant an increase in the expansion.

The improvement and growth in the manufacturing sector is a direct result of a series of steps taken by China in the recent months to help boost its economic growth.

The HSBC PMI survey, which measures manufacturing activity in relatively smaller factories, gave a preliminary reading of 52 for July, which was an 18 month high.

China’s growth stabilizing:

China, which is also the world’s second largest economy, has recently witnessed a series of positive economic data along with the rise in PMI.

In June, China’s economy witnessed a 7.5% rise in the April to June quarter, from a year ago.

Other data also points to the positive developments taking place, with factory output, fixed asset investment and retail sales showing an increase in the recent weeks.

The positive outlook of China’s economy has encouraged policymakers to take steps to help further boost China’s growth.

Planning to cut taxes on smaller companies and speeding up the construction of railway lines across China are part of a series of steps taken by policymakers.

Other steps include China’s central bank making more cash available for banks engaged in lending to agriculture related businesses and smaller companies.

Furthermore, the central bank has also said that it will encourage banks to lend more to exporters in order to boost shipments.

Credence Independent Advisors are expatriates living in favourable tax jurisdictions, but this will not be the case for all of them forever. Our advisors will always ensure that our clients are in the most favourable tax positions possible when returning to their homeland or their next overseas destination. We have a thorough understanding of how trust structures may benefit you and have access to estate planning tools to ensure that your money remains where you want it. We are experts in expatriate clients and will know or find the right solutions to ensure your financial planning puts you in the driving seat with your money.

Ongoing Residential Projects in Mumbai Luring Buyers

According to real estate reports, sales are plummeting in India’s housing market. But this has not stopped developers from introducing new projects in Mumbai as well as Pune. Several ongoing residential projects in these cities are luring buyers to make an investment.

In Mumbai, there has been a significant increase in construction work in ultra-luxury and affordable segments. Sale has gone up for flats below 50 Lacs INR. Even in areas like Mumbai’s metropolitan region and Greater Mumbai, average property rates have increased.

Companies are coming up with new property formats for capitalising on the change in environment caused by proposed real estate laws and changed economic scenario. Not only developers are offering quality properties but buyers are also demanding luxury homes, equipped with modern amenities. In order to lure buyers, developers are building stylish high-rise apartments with world-class facilities.

High-rise buildings have become quite popular among developers as they are constructing such buildings to differentiate their projects from the others. Not just in Mumbai but skyscrapers have also started making a mark on Pune’s skyline. The governing body of the Pune Municipal Corporation in 2011 gave the green signal to increase maximum permissible height of high-rise buildings in Pune to 100 metres from 36 metres.

Many buyers are looking for premium properties in Mumbai and luxury flats in Pune. To cater to this rising demand from wealthy buyers, developers have started building iconic premium properties. High-rise buildings are not only the need of the hour but they also offer stunning views of the city due to which many buyers prefer buying a flat on the top floor of skyscrapers. There are various other advantages associated with living in a high-rise structure. Apart from views, the exclusivity attached to the project also lures buyers. In a city like Mumbai, staying on the top floor of a high-rise building ensures zero noise pollution and clean air.

Such buildings have an iconic status that cannot be replicated easily by other developers. There is a status attached to such constructions which is difficult to find in other project. Many developers are trying to attract buyers by offering world class amenities in such buildings such as a swimming pool and gymnasium. Since such flats have a controlled entrance, security is also ensured.

In last few months, various residential projects priced between 6 Crore INR to 20 Crore INR have been announced by real estate companies in Mumbai. Things have changed to a great extent after Narendra Modi came into power. Foreign investors are getting the stability they were looking for in the Indian economy. The stability factor has helped Foreign Institutional Investors (FIIs) to start investing in the Indian realty sector for attractive returns.

NRIs have also increased their investment in luxury homes in cities like Mumbai, Pune and New Delhi. Many foreign property development companies are also entering the realty market. They are collaborating with Indian property developers to lure home buyers with stylish, super-luxury flats and penthouses.