48 year-old man:  Brain Aneurysm

Massive Internal Bleeding Led to Coma and Multiple Surgeries

We are frequently asked for claims examples to illustrate the importance of travel insurance to our clients.  This example shows how travel insurance protects you and your financial investment in the vent of a mishap or a medical emergency abroad.


A 48 year-old man travelled to Montana to visit friends.  While there, he suffered a massive headache and lost consciousness.  The man was rushed to the hospital.  There he was diagnosed with a brain aneurysm, which had ruptured causing a massive bleed requiring surgery.  To speed his recovery, he was put into a medically induced coma.  While in the hospital, the patient required a second surgery to drain fluid fro his brain.  After 22 days, his insurance company was able to air evacuate him back to his home province.


Hospital fees.......................................$362,027.66
Physician fees.......................................$56,007.14
Radiology fees........................................$7,140.28
Ambulance............................................$10,253.67
Air evacuation.......................................$10,884.38
Provincial medical plan contribution......$10,619.32
Amount covered by travel insurance...$435,693.81

Courtesy of inTUitive Q3/Q4 2012

LOSS PREVENTION

Insurance is great, but prevention is better

They say that an ounce of prevention is worth a pound of cure.  Think of insurance as the cure (sort of) to a number of bad things that could happen to you or your family.  Yes, if you have a fire or theft, insurance will help you pick up the pieces.  But most people who have lost their homes in a fire - even those with great insurance coverage - will tell you that they would prefer if it had never happened in the first place.  Insurance give syou financial peace of mind.  If you have the right coverage, no theft, fire or accident can leave you broke.  However, there are certain things that insurance cannot fix.

If your wedding ring or a priceless family heirloom is stolen in a break-in, insurance may cover the actual market value of the item, but the sentimental value cannot be replaced.  If you suffer a fire and all your family photos are destroyed, you will feel a tremendous loss,even though the photos have no monetary value.  Insurers are in the business of compensating people when they suffer losses.  Being so close to so many human tragedies, insurers are passionately committed to loss prevention.  They know that it is better to avoid suffering that to try to make up for it.

If your home is uninhabitable for a period of time, you may need to move to a hotel or even a new, likely furnished, apartment.  Some home insurance policies will coverage additional living expenses you incur during this time, such as meals (if you are in a hotel) and room charges.  Be sure to ask your insurance representative if you have this type of coverage, so that if disaster strikes you can focus on putting your life back together without worrying about the added costs.

Courtesy of the Insurance Bureau of Canada

REAL LIFE CLAIMS

Learning from Losses

Overloaded electrical sockets cause fire.

Location:  City home

Cause of loss:  Electrical fire

Cost of loss:  $150,000 in damage

Details of loss:  The insureds were sleeping when their smoke detector went off.  Their home was on fire, so they fled and called 911.  The home sustained extensive fire and smoke damage.  The cause of the fire was an overloaded electrical socket in the basement, which overheated or shorted out and ignited belongings that were stacked near the plug

Lessons learned:  Do not overload electrical sockets and ensure that all electrical work is done by a qualified electrician or, at a minimum, inspected by the electrical authority.  Do not pile combustible belongings close to electrical sockets.  make sure your home is equipped with smoke detectors that are operational and test them regularly.

Source: SGI's the Broker, Fall 2012

REAL-LIFE CLAIMS

Learning from Losses

 

Pinched cord results in two deaths

Location:  City home

Cause of loss:  Electrical fire

Cost of loss:  Reserve sett at $135,000

Details of loss:  The owners of a house were sleeping in the basement when a fire started.  It was determined that an electrical cord to a television was pinched and started the fire.  The house was a total loss.  Tragically, the owners were unable to escape and died in the fire.

Lessons learned:  Have your home inspected by an electrician to check for any unknown hazards.  Make sure your home is equipped with smoke detectors that are operational and test them regularly.

Source: SGI's the Broker, Fall 2012

REAL-LIFE CLAIMS

Learning from losses

 

 

Garage destroyed, house damaged in block heater blaze

Location:  City home.

Cause of loss:  Fire caused by a faulty block heater cord.

Cost of loss:  $160,000 in damage.

Details of loss:  The insured got up in the morning and went in to the attached garage to plug in a vehicle so it would be warm for the drive to work.  About an hour later, the insured went to get the newspaper and noticed smoke coming from the garage.  An attempt was made to extinguish the fire but was unsuccessful.  Emergency services was called and the fire department responded, but the garage was completely destroyed.  The rest of the house suffered major fire, smoke and water damage.  It was determined the fire was caused by the block heater cord.

Lessons learned:  Have your vehicle serviced regularly, including your block heater.  Make sure your vehicle's extension cord is rated for the amperage of your block heater and is in good condition -- with no frays, cuts or other damage.  Always disconnect cords by holding the plug and not be pulling on the cord.

Source:  SGI's the Broker, Fall 2012

PMC TRAVEL CHECKLIST

Beyond helping you find the right travel health coverage, there are many things you can do to ensure you travel with peace of mind.

1. Understand entry requirements and safety issues for the country you are visiting.  Visit the Canadian government’s travel website at www.travel.gc.ca. Here you will find information on passport and document requirements. The site will advise of any travel warnings, personal safety issues and immunizations required for entry.

2. Ensure you purchase the correct coverage for the full duration of your trip. Read the travel provisions to make sure you understand your coverage and what is and isn’t included.

3. Don’t forget to take your travel health policy with you on your trip. Having your policy on hand will guarantee that you have the proper information available if you require medical services. Some countries, like Cuba and certain countries in Europe, require proof of health insurance before tourists can enter. Your Blue Cross or Travel Underwriters travel health policy will meet this requirement.

4. Be certain that you understand what to do in the case of an emergency. Remember to keep all emergency numbers handy in case you need help. Note your policy includes the number for 24-hour worldwide assistance if a medical emergency occurs in a foreign country.

5. If a pre-existing condition applies to your plan, make sure you understand what that means.  Many plans will still cover you if your pre-existing condition is stable and controlled for at least 12 months. Understand the insurance company's definition of stable and controlled. 

6. If you have any concerns when completing a medical questionnaire, please take the questionnaire to your physician to complete with your updated medical information.  Remember that individuals who complete a medical questionnaire also agree to report any changes in medical conditions that would alter their medical questionnaire prior to departure.
 

Do You Have The Right Insurance?

How does RV Insurance differ from Auto Insurance?


With summer just around the corner many people are pulling out the RV and getting ready for camping trips.  At PMC Insurance we provide many different types of insurance.  RV's can be significant investments and we want to help you protect your investment.  Come and talk with us about RV insurance options.  


If you're looking at recreational vehicle for your family holiday, you might want to call your insurer before making a down payment. Different types of RVs call for different types of insurance and the costs and coverage may influence what type of RV you decide to buy. You also need to find out if your insurer offers RV insurance in the province where you reside, since not all insurers provide RV coverage in all provinces.

Most RV policies fall into three basic categories: