Written on: 18/03/2012
AmEx have just increased my annual travel policy by about 50% due to: "“…The April Icelandic Volcano eruption……”.
BUT, when I claimed cancellation deposits and costs as a result of the volcano (I lost the cost of a hotel deposit and non-refundable flights in the US) they (AXA, their underwriters) did not pay out, saying they will not pay:
“Any claim resulting from the withdrawal from service of any public transport on the orders or recommendation of the regulatory authority in any country”
AXA has not paid out for anyone, if the press are to be believed.
SO how can they have it both ways - increase premiums now to cover payouts they have not made?
After many years of renewing this insurance (I use the car rental insurance cover of this policy in the US), I am now incensed at their dishonesty.
Good newspaper story here of a money grabbing scam by an insurance company
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